Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on iTeos Therapeutics (ITOS – Research Report) and keeping the price target at $21.00.
Swayampakula Ramakanth’s rating is based on several promising developments and strategic updates from iTeos Therapeutics. The company is advancing its clinical pipeline with significant data releases expected in 2025, including topline data from the Phase 2 GALAXIES Lung-201 study and interim results from the GALAXIES H&N-202 study. These studies focus on evaluating the efficacy of belrestotug in combination with dostarlimab for treating NSCLC and HNSCC, with protocol amendments aimed at improving safety and efficacy outcomes.
Additionally, iTeos is progressing with its Phase 1 APT-008 study for EOS-984, which is expected to provide topline data in the second half of 2025. Financially, the company reported a net loss in line with expectations and holds a robust cash position of approximately $655 million, which is considered adequate to support its ongoing research and development activities. These factors collectively contribute to the Buy rating, as they highlight the potential for future growth and value creation.
According to TipRanks, Ramakanth is a 3-star analyst with an average return of 2.8% and a 34.87% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Eton Pharmaceuticals, AbSci, and Ocugen.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $17.00 price target.