XERS, CARL Stocks Hit All-Time Highs Today – Here’s What Analysts Are Saying

Analysts raised price targets on Xeris and Carlsmed after the companies reported better-than-expected third-quarter revenue and raised their fiscal 2026 guidance

• Barclays called Xeris’ Q3 earnings ‘impressive,’ highlighting strong demand for the company’s Cushing’s syndrome treatment, Recorlev.
• Xeris expects Recorlev’s annual sales to hit $1 billion three to four years earlier than previously forecast.
• BTIG raised CARL stock’s price target to $26 from $24, implying a 45% upside from current levels.

Shares of Xeris Biopharma (XERS) and Carlsmed (CARL) surged to record highs on Wednesday after Wall Street raised price targets on both stocks, citing strong growth prospects following the companies’ upbeat third-quarter results and upward revisions to their full-year revenue forecasts.

At the time of writing, XERS shares were up 3.8% while CARL stock surged more than 22%, tracking its biggest ever single-day gain.

Barclays Calls XERS’ Q3 ‘Impressive’ Amid Strong Recorlev Demand

Analysts continued to weigh in on Xeris Biopharma’s growth after its third-quarter (Q3) earnings last week, with Barclays calling the print “impressive” and highlighting strong demand for the company’s Cushing’s syndrome treatment, Recorlev.

The brokerage raised the price target on XERS to $18 from $14 while maintaining an ‘Overweight’ rating, according to The Fly. The revised target implies about 9% upside from current levels.

Last week, Xeris reported a 44% increase in Q3 revenue to $107.2 million, beating Wall Street’s estimate of $101.7 million, according to Fiscal.ai. Growth was primarily driven by a 93% surge in Recorlev sales. The company expects Recorlev to hit $1 billion in annual net revenue three to four years earlier than previously forecast.

Xeris also raised its full-year 2026 revenue forecast to $395 million to $405 million from $385 million to $390 million. XERS shares have gained more than 57% since the results.

Retail sentiment surrounding XERS on Stocktwits remained ‘extremely bullish’ over the past 24 hours.

BTIG Sees 45% Upside Potential In CARL

Wall Street turned bullish on Carlsmed after the company posted a better-than-expected Q3 topline and raised its fiscal 2026 revenue guidance.

BTIG raised CARL’s price target to $26 from $24, a 45% upside from current levels. The firm maintained a ‘Buy’ rating, citing strong results driven by the addition of new surgeons and increased use of its personalized spine surgery products. The brokerage expects new product launches to boost average selling prices.

Truist also raised its price target to $23 from $20, and maintained a ‘Buy’ rating.

On Tuesday, Carlsmed reported a 65% surge in revenue to $21.6 million, beating Wall Street’s $19.56 million estimate, according to Fiscal.ai. However, loss of $0.45 per share exceeded consensus estimates of $0.41 per share loss.

Carlsmed raised its FY2026 revenue guidance to $78 million to $80 million from $74 million to $78 million.

Despite the sharp intraday gains, retail sentiment remained ‘bearish’ since Tuesday. CARL shares have gained about 54% so far in 2026.

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