Keros Therapeutics (NASDAQ:KROS) Announces Quarterly Earnings Results, Beats Estimates By $1.66 EPS

Key Points

• Keros reported EPS of $0.70, beating the consensus estimate of a $0.96 loss by $1.66; quarterly revenue of $40.01 million also exceeded the $14.76 million forecast.
• Shares fell $1.38 to $9.45 after the results, near the stock’s 12-month low of $9.37.
• The board authorized a $5 million share buyback, covering up to 2.3% of shares. Analysts’ consensus rating is Hold, with an average price target of $20.50.

Keros Therapeutics (NASDAQ:KROS - Get Free Report) announced its earnings results on Thursday. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of ($0.96) by $1.66, FiscalAI reports. The company had revenue of $40.01 million during the quarter, compared to analysts' expectations of $14.76 million. Keros Therapeutics had a negative return on equity of 21.40% and a negative net margin of 256.60%.

Keros Therapeutics Stock Performance

Shares of KROS stock traded down $1.38 on Thursday, reaching $9.45. 238,370 shares of the stock were exchanged, compared to its average volume of 157,747. The business's 50 day moving average price is $11.22 and its 200 day moving average price is $11.97. Keros Therapeutics has a twelve month low of $9.37 and a twelve month high of $22.55.

Insiders Place Their Bets

In other Keros Therapeutics news, insider Lorena Raquel Lerner sold 3,568 shares of Keros Therapeutics stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $10.29, for a total transaction of $36,714.72. Following the completion of 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 Securities & Exchange Commission, which is available at 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 in the last 90 days. 12.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on KROS shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Keros Therapeutics in a research report on Wednesday, August 12th. Zacks Research upgraded shares of Keros Therapeutics from a "strong sell" rating to a "hold" rating in a report on Thursday, August 27th. Leerink Partners dropped their price objective on shares of Keros Therapeutics from $30.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, August 4th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Keros Therapeutics in a research note on Tuesday, August 4th. Finally, Wall Street Zen lowered shares of Keros Therapeutics from a "sell" rating to a "strong sell" rating in a report on Sunday. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.50.

Keros Therapeutics announced that its board has initiated a stock buyback program on Wednesday, September 9th that permits the company to repurchase $5 million in shares. This buyback authorization permits the company to buy up to 2.3% of its stock through open market purchases. Share buyback programs are often a sign that the company's management believes its stock is undervalued.

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-β) 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.

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