BUZZ-Guggenheim downgrades Keros Therapeutics to 'neutral'

Reuters12-17

BUZZ-Guggenheim downgrades Keros <a href="https://laohu8.com/S/LENZ">Therapeutics</a> to 'neutral'

** Brokerage Guggenheim downgrades drug developer Keros Therapeutics KROS.O to "neutral" from "buy"; removes PT on stock, previous PT was $102

** Says brokerage is "surprised" and "disappointed" after co paused higher doses of its experimental high blood pressure treatment "cibotercept" in a mid-stage study after reports of adverse effects on Thursday

** Shares were down ~73% at close on Thursday following the announcement

**Brokerage sees co and stock having a difficult path ahead, at least in near term

** Says exact reason for occurrence will likely wouldn't be clear until topline data is released in Q2 2025

** Also lowers cibotercept's probability of success, but still sees significant upside potential for the treatment if it demonstrates efficacy similar to Merck's MRK.N sotatercept

** 11 of 15 brokerages rate the stock "buy" or higher, and four "hold", with a median PT of $42

** Including session moves, stock has fallen ~52% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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