Wedbush Forecasts Higher Earnings for iTeos Therapeutics

iTeos Therapeutics, Inc. (NASDAQ:ITOS) – Analysts at Wedbush lifted their FY2024 earnings per share estimates for iTeos Therapeutics in a report released on Tuesday, November 12th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($3.26) for the year, up from their prior estimate of ($3.53). Wedbush currently has a “Outperform” rating and a $25.00 target price 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.

iTeos Therapeutics (NASDAQ:ITOS) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.05) earnings per share for the quarter, topping the consensus estimate of ($1.18) by $0.13.

ITOS has been the topic of a number of other research reports. HC Wainwright reissued a “buy” rating and set a $46.00 price target on shares of iTeos Therapeutics in a research report on Friday. JPMorgan Chase & Co. reduced their target price on iTeos Therapeutics from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Finally, Wells Fargo & Company began coverage on iTeos Therapeutics in a research note on Tuesday, August 13th. They issued an “overweight” rating and a $31.00 price target for the company.

iTeos Therapeutics Trading Down 2.7 %

Shares of ITOS opened at $8.23 on Friday. iTeos Therapeutics has a 12 month low of $7.99 and a 12 month high of $18.75. The firm’s 50 day moving average is $10.27 and its 200-day moving average is $13.99. The stock has a market capitalization of $300.64 million, a PE ratio of -2.61 and a beta of 1.39.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ITOS. nVerses Capital LLC boosted its holdings in shares of iTeos Therapeutics by 212.5% in the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $26,000 after purchasing an additional 1,700 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of iTeos Therapeutics during the 3rd quarter worth $31,000. China Universal Asset Management Co. Ltd. boosted its stake in iTeos Therapeutics by 60.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,024 shares of the company’s stock valued at $72,000 after buying an additional 2,646 shares in the last quarter. Quest Partners LLC grew its position in iTeos Therapeutics by 914.7% in the third quarter. Quest Partners LLC now owns 11,020 shares of the company’s stock valued at $113,000 after acquiring an additional 9,934 shares during the last quarter. Finally, US Bancorp DE raised its stake in iTeos Therapeutics by 206.0% during the third quarter. US Bancorp DE now owns 12,076 shares of the company’s stock worth $123,000 after acquiring an additional 8,129 shares in the last quarter. 97.16% of the stock is currently 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.