Keros Therapeutics (NASDAQ:KROS) to Buyback $5.00 million in Outstanding Stock

Keros Therapeutics (NASDAQ:KROS) declared that its board has approved a share repurchase program on Wednesday, September 9th, RTT News reports. The company plans to repurchase $5.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Keros Therapeutics from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. HC Wainwright reissued a “buy” rating and issued a $20.00 price objective on shares of Keros Therapeutics in a research note on Tuesday, August 4th. Wall Street Zen cut Keros Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday. Leerink Partners reduced their price objective on Keros Therapeutics from $30.00 to $23.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Keros Therapeutics in a research report on Wednesday, August 12th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.50.

Keros Therapeutics Stock Performance

Shares of KROS traded up $0.14 during mid-day trading on Wednesday, reaching $11.31. 188,506 shares of the company were exchanged, compared to its average volume of 167,664. Keros Therapeutics has a 52 week low of $9.69 and a 52 week high of $22.55. The stock has a market capitalization of $224.28 million, a PE ratio of -3.06 and a beta of 1.01. The business has a 50 day simple moving average of $10.84 and a two-hundred day simple moving average of $11.26.

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

Insider Transactions at Keros Therapeutics

In other news, insider Lorena Raquel Lerner sold 3,568 shares of the business’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 value of $36,714.72. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 5,893 shares of company stock worth $60,507. 12.60% of the stock is currently owned by company insiders.

Keros Therapeutics Company Profile

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.