Xeris Biopharma (XERS) Reports Q2 Loss, Tops Revenue Estimates

Core Viewpoint - Xeris Biopharma reported a quarterly loss of $0.10 per share, which was better than the Zacks Consensus Estimate of a loss of $0.11, indicating a positive earnings surprise of 9.09% [1] Financial Performance - The company posted revenues of $48.07 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 2.70% and showing an increase from $38.01 million in the same quarter last year [2] - Over the last four quarters, Xeris Biopharma has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Xeris Biopharma shares have declined approximately 9.4% since the beginning of the year, contrasting with the S&P 500's gain of 9% [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting it is expected to outperform the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.09 on revenues of $49.45 million, and for the current fiscal year, it is -$0.39 on revenues of $189.5 million [7] - The estimate revisions trend for Xeris Biopharma is favorable ahead of the earnings release, which may influence future stock movements [6] Industry Context - The Medical - Drugs industry, to which Xeris Biopharma belongs, is currently ranked in the top 42% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, VYNE Therapeutics Inc., is expected to report a quarterly loss of $0.19 per share, reflecting a year-over-year change of +93.8% [9]