Keros Therapeutics price target lowered to $32 from $33 at BofA

BofA analyst Jason Zemansky lowered the firm’s price target on Keros Therapeutics (KROS) to $32 from $33 and keeps a Buy rating on the shares. The company has announced it voluntarily halted the remaining dosing arms in TROPOS, the phase 2 of its cibotercept in pulmonary arterial hypertension – PAH – due to the emergence of additional instances of pericardial effusion, and the shares came under significant pressure, but the move seems overdone, the analyst tells investors in a research note. Beyond the trial uncertainties, there were also commercial questions as well given cibotercept’s supposed value proposition, so the value for the indication was not significant, the firm adds.