Wedbush Forecasts Stronger Earnings for iTeos Therapeutics

iTeos Therapeutics, Inc. (NASDAQ:ITOS) – Equities researchers at Wedbush increased their FY2024 earnings estimates for iTeos Therapeutics in a research report issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now expects that the company will earn ($3.26) per share for the year, up from their previous estimate of ($3.53). Wedbush has a “Outperform” rating and a $25.00 price target on the stock. The consensus estimate for iTeos Therapeutics’ current full-year earnings is ($3.64) per share. Wedbush also issued estimates for iTeos Therapeutics’ Q4 2024 earnings at ($0.95) EPS, Q1 2025 earnings at ($1.01) EPS, Q2 2025 earnings at ($1.13) EPS, Q3 2025 earnings at ($1.19) EPS, Q4 2025 earnings at ($1.23) EPS, FY2025 earnings at ($4.56) EPS, FY2026 earnings at ($5.26) EPS, FY2027 earnings at ($4.54) EPS and FY2028 earnings at ($1.26) EPS.

A number of other equities analysts also recently commented on ITOS. Wells Fargo & Company started coverage on iTeos Therapeutics in a report on Tuesday, August 13th. They issued an “overweight” rating and a $31.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $46.00 price target on shares of iTeos Therapeutics in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of iTeos Therapeutics from $27.00 to $24.00 and set an “overweight” rating for the company in a research report on Monday, August 12th.

iTeos Therapeutics Trading Down 2.7 %

Shares of iTeos Therapeutics stock opened at $8.23 on Friday. The business’s fifty day moving average price is $10.40 and its 200 day moving average price is $13.99. iTeos Therapeutics has a twelve month low of $7.99 and a twelve month high of $18.75. The stock has a market capitalization of $300.64 million, a P/E ratio of -2.69 and a beta of 1.39.

Institutional Investors Weigh In On iTeos Therapeutics

A number of large investors have recently added to or reduced their stakes in ITOS. Acadian Asset Management LLC purchased a new position in iTeos Therapeutics in the 1st quarter valued at about $3,337,000. Clearline Capital LP purchased a new position in iTeos Therapeutics in the second quarter valued at about $2,328,000. Candriam S.C.A. acquired a new stake in iTeos Therapeutics during the 2nd quarter valued at approximately $7,558,000. Kennedy Capital Management LLC purchased a new stake in iTeos Therapeutics during the 1st quarter worth approximately $1,988,000. Finally, Dimensional Fund Advisors LP raised its position in shares of iTeos Therapeutics by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 908,329 shares of the company’s stock valued at $13,481,000 after purchasing an additional 117,159 shares in the last quarter. 97.16% of the stock is owned by institutional investors and hedge funds.

About iTeos Therapeutics

Iteos Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of immuno-oncology therapeutics for patients with cancer. The company's lead antibody product candidate, belrestotug, an antagonist of TIGIT or T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial, as well as used to engage the Fc gamma receptor, or Fc?R to activate dendritic cells, natural killer cells, and macrophages and to promote antibody-dependent cellular cytotoxicity, or ADCC activity.