Keros Therapeutics price target lowered to $43 from $100 at Truist

Truist analyst Srikripa Devarakonda lowered the firm’s price target on Keros Therapeutics (KROS) to $43 from $100 and keeps a Buy rating on the shares. Keros recently announced updates to their lead programs, including a global partnership with Takeda (TAK) for the development and commercialization of anemia drug elritercept, which the firm saw as a positive, as well as a more recent update around safety concerns with second lead asset cibotercept following observation of pericardial effusion in the ongoing Phase 2 study, which led to a significant pullback in the stock, the analyst tells investors. While the firm has updated its model to reflect these recent developments and believes the reaction to the PAH news was “excessive,” it also believes the stock could trade sideways near-term, the analyst noted.