What happened
Shares of Keros Therapeutics(NASDAQ: KROS) were up 19.5% for the week in early trading Friday, according to data provided by S&P Global Market Intelligence. The clinical-stage biotech company's stock closed last week at $38.79 and rose to as high as $46.94 on Friday morning. Keros focuses on treatments for blood and musculoskeletal disorders. The stock is up a little more than 4% so far this year.
So what
A couple of factors spurred the stock this week.
On Monday, Piper Sandler analyst Joseph Cantanzaro reiterated his buy rating for Keros, maintaining a price target of $120. The consensus among analysts was a buy rating for the company with a an average price target of $106.25. As the analyst most bullish on the stock, his willingness to stay with his position encouraged some investors.
And on Wednesday, the company announced it was appointing Alpna Seth, formerly an executive with Nura Bio, Vir Biotechnology, and Biogen, to its board of directors.
The company has three product candidates in its pipeline, two of which are in phase 2 trials, and the third of which has finished its phase 1 trial.
KER-050, developed to treat cytopenias (low levels of certain blood cell types), is in a phase 2 trial with patients with myelodysplastic syndromes (MDS) -- a group of disorders where blood cells are poorly formed or do not work properly -- and another study in patients with myelofibrosis, a condition which disrupts normal blood cell production.
Its other lead therapy, KER-047, is being developed for the treatment of functional iron deficiency and is in a phase 2 trial to treat iron-refractory iron deficiency anemia (IRIDA)
Keros' third candidate, KER-012, is being investigated to treat pulmonary arterial hypertension (PAH) and cardiovascular disorders associated with cardiac hypertrophy.
Now what
This stock is strictly a long-term play for investors with a high tolerance for risk. In 2022, the company had no revenue and lost $104.7 million in 2022, compared to its loss of $58.7 million in 2021. Keros said in its full-year and fourth-quarter report that it has enough cash on hand to fund operations into the third quarter of 2025.
10 stocks we like better than Keros Therapeutics
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Keros Therapeutics wasn't one of them! That's right -- they think these 10 stocks are even better buys.
*Stock Advisor returns as of April 21, 2023
Jim Halley has no position in any of the stocks mentioned. The Motley Fool recommends Biogen. The Motley Fool has a disclosure policy.
