Strength Seen in Xeris Biopharma (XERS): Can Its 5.6% Jump Turn into More Strength?

Company Overview - Xeris Biopharma (XERS) shares increased by 5.6% to $5.51 in the last trading session, with a notable trading volume, contributing to a total gain of 34.9% over the past four weeks [1][2] Recent Developments - The FDA approved Xeris' supplemental new drug application for Gvoke VialDx, which is intended to temporarily inhibit gastrointestinal movement during radiologic procedures in adults [2] - Xeris entered a partnership with American Regent to commercialize Gvoke VialDx in the United States, which has likely contributed to the recent optimism and share price increase [2] Financial Expectations - Xeris is projected to report a quarterly loss of $0.07 per share, reflecting a year-over-year improvement of 50% [3] - Expected revenues for the upcoming quarter are $57.75 million, representing a 42.1% increase compared to the same quarter last year [3] Earnings Estimate Revisions - The consensus EPS estimate for Xeris has been revised 10% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [4] - The stock currently holds a Zacks Rank of 2 (Buy), suggesting favorable market sentiment [4] Industry Context - Xeris Biopharma is part of the Zacks Medical - Drugs industry, where another company, Aurinia Pharmaceuticals (AUPH), saw a 1.7% increase in its last trading session and has returned 3% over the past month [4] - Aurinia's consensus EPS estimate has decreased by 17.5% over the past month, although it reflects a significant year-over-year change of 400% [5]