Keros Therapeutics price target lowered to $63 from $102 at Oppenheimer

Oppenheimer analyst Andreas Argyrides lowered the firm’s price target on Keros Therapeutics (KROS) to $63 from $102 and keeps an Outperform rating on the shares. The news on December 12 to discontinue dosing at the mid-high-dose cohorts of cibotercept in the Phase 2 TROPOS study has made it challenging for cibotercept to differentiate from sotatercept on both efficacy and safety. The firm, however, views the stock’s same-day 70% selloff as premature after speaking with experts on the incidence of pericardial effusion and sees a path forward at lower doses where cibotercept can still achieve sotatercept-like efficacy with no Hb increases and bleeding risks. Oppenheimer would be a buyer on weakness ahead of a near-term update.