Analyst Eva Fortea Verdejo of Wells Fargo maintained a Buy rating on iTeos Therapeutics (ITOS – Research Report), reducing the price target to $17.00.
Eva Fortea Verdejo’s rating is based on several key factors surrounding iTeos Therapeutics’ current and future prospects. One of the main reasons is the anticipated data from EOS-984 expected in the second half of 2025, which could provide significant insights into the potential of this target and its combinability with pembrolizumab. The company is also progressing with its belrestotug and dostarlimab programs, with upcoming data readouts that could further clarify their efficacy and safety profiles.
Additionally, iTeos Therapeutics’ financial position is strong, with $655 million in cash at the end of the fourth quarter of 2024, providing a runway through 2027. Despite the stock being down 11% year-to-date, Verdejo sees it as undervalued, particularly given the potential upside from the EOS-984 program and the company’s strategic approach to its pipeline. The combination strategies and ongoing trials could offer promising results that justify the Buy rating.
ITOS’s price has also changed dramatically for the past six months – from $15.500 to $7.260, which is a -53.16% drop .