Stock Buyback Program Authorized by Keros Therapeutics (NASDAQ:KROS) Board

Keros Therapeutics (NASDAQ:KROS) announced that its board has approved a stock buyback plan on Wednesday, September 9th, RTT News reports. The company plans to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Keros Therapeutics Stock Performance

NASDAQ:KROS opened at $11.08 on Friday. Keros Therapeutics has a fifty-two week low of $9.69 and a fifty-two week high of $22.55. The company has a 50 day moving average price of $10.83 and a 200 day moving average price of $11.22. The stock has a market capitalization of $219.68 million, a P/E ratio of -2.99 and a beta of 1.01.

Keros Therapeutics (NASDAQ:KROS) last announced its earnings results on Monday, August 3rd. The company reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.11). Keros Therapeutics had a negative net margin of 256.60% and a negative return on equity of 21.40%. Research analysts forecast that Keros Therapeutics will post -5.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KROS. Wall Street Zen lowered Keros Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Keros Therapeutics in a research note on Wednesday, August 12th. Wells Fargo & Company lowered their price target on Keros Therapeutics from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. HC Wainwright reissued a “buy” rating and set a $20.00 price objective on shares of Keros Therapeutics in a research report on Tuesday, August 4th. Finally, Leerink Partners cut their price objective on Keros Therapeutics from $30.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Keros Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Insider Activity

In related news, insider Lorena Raquel Lerner sold 3,568 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $10.29, for a total value of $36,714.72. Following the sale, the insider owned 27,559 shares in the company, valued at approximately $283,582.11. The trade was a 11.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 5,343 shares of company stock valued at $54,985. 12.60% of the stock is currently owned by insiders.

About Keros Therapeutics

Keros Therapeutics, Inc (NASDAQ: KROS) is a clinical-stage biopharmaceutical company dedicated to discovering and developing novel therapies for disorders of erythropoiesis and iron regulation. The company’s research centers on modulating the transforming growth factor-beta (TGF-β) superfamily to rebalance hematopoiesis and improve red blood cell production. By targeting key signaling pathways involved in anemia, Keros aims to provide new treatment options for patients with myelodysplastic syndromes, beta-thalassemia and other chronic anemias with significant unmet need.

The company’s lead product candidate, KER-050, is an engineered activin receptor ligand trap designed to restore effective erythropoiesis and reduce transfusion dependence in patients with anemia associated with myelodysplastic syndromes and primary myelofibrosis.