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Keros Therapeutics Inc (KROS) stock has hit a 52-week low of $9.77, marking a stark 86% decline from its peak of $72.37. According to InvestingPro analysis, the stock appears undervalued, with analysts setting price targets between $15 and $76. The biotechnology firm, which specializes in developing treatments for hematological and musculoskeletal disorders, has seen a significant downturn over the past year, with its stock price plummeting by 85.21%. While investors remain cautious amid clinical trial uncertainties, InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 21.45 and more cash than debt on its balance sheet. The 52-week low marks a stark contrast to the company’s performance in the previous year and reflects the volatility inherent in the biotech sector. Two analysts have recently revised their earnings estimates upward, suggesting potential optimism about the company’s prospects. Discover 9 more exclusive insights with InvestingPro.
In other recent news, Keros Therapeutics has been in the spotlight due to several key developments. The company announced the effectiveness of its global license agreement with Takeda, which includes an upfront payment of $200 million to Keros. This partnership focuses on the advancement of elritercept and is seen as a strategic move to bolster Keros’s financial foundation and research efforts. Meanwhile, Keros has faced challenges with its Phase 2 TROPOS study for cibotercept, which was voluntarily terminated due to safety concerns involving pericardial effusions. As a result, Oppenheimer and Piper Sandler have significantly reduced their price targets for Keros, with Oppenheimer adjusting to $23 and Piper Sandler to $15, while maintaining Outperform and Overweight ratings, respectively.
Additionally, Cantor Fitzgerald downgraded Keros’s stock from Buy to Neutral, citing the dosing setbacks in the cibotercept trial. Despite these hurdles, analysts emphasize Keros’s strong financial position, supported by the Takeda deal. The focus is now shifting toward KER-065, with updates anticipated in early 2025. H.C. Wainwright also adjusted its price target for Keros to $40, maintaining a Buy rating, and highlighted the importance of upcoming clinical data for KER-065. These developments reflect a pivotal period for Keros as it navigates clinical challenges and leverages strategic partnerships.
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