Share Buyback Program Approved by Keros Therapeutics (NASDAQ:KROS) Board of Directors

Key Points

• Keros Therapeutics’ board approved a $5 million share repurchase program, allowing the company to buy back up to 2.3% of its outstanding shares through open-market purchases.
• KROS shares traded at $11.31, near the midpoint of their 52-week range, while the company reported a quarterly loss of $1.45 per share—worse than analysts’ $1.34 estimate.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $20.50; recent targets were lowered despite some firms maintaining Buy or Outperform ratings.

Keros Therapeutics (NASDAQ:KROS - Get Free Report) declared that its Board of Directors has approved a stock repurchase program on Wednesday, September 9th, RTT News reports. The company plans to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Keros Therapeutics Price Performance

Shares of KROS traded up $0.14 during trading hours on Wednesday, hitting $11.31. The stock had a trading volume of 188,506 shares, 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 price-to-earnings ratio of -3.06 and a beta of 1.01. The company's fifty day moving average is $10.84 and its two-hundred day moving average is $11.26.

Keros Therapeutics (NASDAQ:KROS - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported ($1.45) earnings per share 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%. Equities analysts predict that Keros Therapeutics will post -5.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KROS. Zacks Research upgraded Keros Therapeutics from a "strong sell" rating to a "hold" rating in a report on Thursday, August 27th. Wells Fargo & Company lowered their price objective on shares of Keros Therapeutics from $20.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Keros Therapeutics in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Keros Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday. Finally, Leerink Partners decreased their price target on shares of Keros Therapeutics from $30.00 to $23.00 and set an "outperform" rating on the stock 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $20.50.

Insider Activity

In other Keros Therapeutics news, insider Lorena Raquel Lerner sold 3,568 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $10.29, for a total transaction of $36,714.72. Following the sale, the insider directly owned 27,559 shares of the company's stock, valued at $283,582.11. The trade was a 11.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 5,893 shares of company stock valued at $60,507 in the last 90 days. 12.60% of the stock is 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.

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