Keros Therapeutics (NASDAQ:KROS) Issues Earnings Results

Keros Therapeutics (NASDAQ:KROS) issued its quarterly earnings data on Thursday. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of ($0.96) by $1.66, FiscalAI reports. The business had revenue of $40.01 million during the quarter, compared to the consensus estimate of $14.76 million. Keros Therapeutics had a negative net margin of 256.60% and a negative return on equity of 21.40%.

Keros Therapeutics Price Performance

NASDAQ KROS traded down $1.38 on Thursday, reaching $9.45. The stock had a trading volume of 238,370 shares, compared to its average volume of 157,747. Keros Therapeutics has a 12-month low of $9.37 and a 12-month high of $22.55. The business’s 50-day moving average price is $11.22 and its 200 day moving average price is $11.97.

Keros Therapeutics declared that its board has approved a stock repurchase program on Wednesday, September 9th that permits the company to buy back $5 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.3% of its shares through open market purchases. Share buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Keros Therapeutics

In other news, insider Lorena Raquel Lerner sold 3,568 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $10.29, for a total transaction of $36,714.72. Following the transaction, the insider directly owned 27,559 shares in the company, valued at approximately $283,582.11. This trade represents a 11.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 5,343 shares of company stock valued at $54,985 over the last three months. 12.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on KROS shares. Wall Street Zen cut shares of Keros Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday. Zacks Research upgraded shares of Keros Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Wells Fargo & Company reduced their price target on shares of Keros Therapeutics from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, August 4th. HC Wainwright restated a “buy” rating and issued a $20.00 price objective on shares of Keros Therapeutics in a research note on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Keros Therapeutics in a report on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.50.

About Keros Therapeutics

Keros Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for diseases caused by dysfunctional signaling in the transforming growth factor-beta (TGF-?) superfamily of proteins. The company uses its research platform to design therapies intended to regulate signaling pathways involved in blood-cell production, bone health and cardiovascular function.

Keros’ investigational pipeline has included elritercept (KER-050), an activin receptor type IIA ligand trap being studied for hematologic conditions such as lower-risk myelodysplastic syndromes and myelofibrosis.