Keros Therapeutics price target lowered to $76 from $81 at BofA

BofA lowered the firm’s price target on Keros Therapeutics to $76 from $81 and keeps a Buy rating on the shares. With cibotercept’s phase 2 TROPOS PAH trial enrolling faster than expected, the firm would argue concerns about whether Keros’ next-in-class elritercept and cibotercept are sufficiently differentiated have started to recede with positive momentum likely to continue heading into updates from the elritercept MDS and MF phase 2 trials in Q4, the analyst tells investors. Prior to these readouts, the firm updated its model to reflect recent updates, increasing its forecasts in PAH and MF, but reducing its outlook in MDS.