Wedbush Predicts Stronger Earnings for iTeos Therapeutics

iTeos Therapeutics, Inc. (NASDAQ:ITOS) – Equities researchers at Wedbush boosted their FY2024 earnings per share (EPS) estimates for iTeos Therapeutics in a research note issued on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($3.26) per share for the year, up from their prior estimate of ($3.53). Wedbush has a “Outperform” rating and a $25.00 price objective 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 weighed in on ITOS. HC Wainwright reaffirmed a “buy” rating and issued a $46.00 target price on shares of iTeos Therapeutics in a research note on Monday, September 16th. Wells Fargo & Company assumed coverage on shares of iTeos Therapeutics in a research report on Tuesday, August 13th. They issued an “overweight” rating and a $31.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their price objective on iTeos Therapeutics from $27.00 to $24.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th.

iTeos Therapeutics Stock Down 4.2 %

iTeos Therapeutics stock opened at $8.46 on Friday. The stock has a 50-day simple moving average of $10.54 and a 200 day simple moving average of $14.03. iTeos Therapeutics has a 12-month low of $8.05 and a 12-month high of $18.75.

Institutional Investors Weigh In On iTeos Therapeutics

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in iTeos Therapeutics by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,500,602 shares of the company’s stock valued at $20,468,000 after acquiring an additional 9,660 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of iTeos Therapeutics by 14.8% during the second quarter. Dimensional Fund Advisors LP now owns 908,329 shares of the company’s stock worth $13,481,000 after purchasing an additional 117,159 shares during the period. Candriam S.C.A. bought a new stake in iTeos Therapeutics in the second quarter valued at about $7,558,000. Algert Global LLC lifted its stake in iTeos Therapeutics by 92.0% in the third quarter. Algert Global LLC now owns 256,139 shares of the company’s stock valued at $2,615,000 after buying an additional 122,730 shares during the period. Finally, Acadian Asset Management LLC bought a new position in iTeos Therapeutics during the first quarter worth about $3,337,000. Institutional investors and hedge funds own 97.16% of the company’s stock.

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.