Leerink Partners analyst Daina Graybosch maintained a Buy rating on iTeos Therapeutics (ITOS – Research Report) on March 5 and set a price target of $47.00.
Daina Graybosch’s rating is based on the potential for iTeos Therapeutics to achieve significant clinical milestones with its anti-TIGIT therapies, particularly belrestotug, in collaboration with GSK. Despite previous setbacks in the TIGIT space, notably by Merck and Roche, iTeos is poised to demonstrate the efficacy of its more potent antibody and toxicity mitigation strategies. The upcoming clinical trial updates, especially from the GALAXIES-Lung-201 trial, are expected to provide evidence of the effectiveness of the belrestotug and dostarlimab combination, which could surpass the performance of the pembrolizumab control arm.
Additionally, there is an opportunity for iTeos to capitalize on the shortcomings of Merck’s TIGIT trials in SCCHN, with their own trials potentially showing superior outcomes. The lack of a pembrolizumab control in some SCCHN studies is a downside, but the presence of a dostarlimab control arm will help assess the contribution of TIGIT. The anticipated updates from ALX Oncology’s ASPEN studies and Merck’s LEAP-010 will also serve as benchmarks for iTeos, potentially highlighting the company’s competitive edge in the field.
According to TipRanks, Graybosch is an analyst with an average return of -16.1% and a 29.65% success rate. Graybosch covers the Healthcare sector, focusing on stocks such as Merck & Company, Arcus Biosciences, and Gilead Sciences.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $15.00 price target.