Wedbush Forecasts Increased Earnings for iTeos Therapeutics

iTeos Therapeutics, Inc. (NASDAQ:ITOS) – Investment analysts at Wedbush upped their FY2024 earnings per share estimates for iTeos Therapeutics in a note issued to investors 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 forecast 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.

Several other brokerages also recently issued reports on ITOS. Wells Fargo & Company assumed coverage on shares of iTeos Therapeutics in a research report on Tuesday, August 13th. They set an “overweight” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of iTeos Therapeutics from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $46.00 price target on shares of iTeos Therapeutics in a research note on Monday, September 16th.

iTeos Therapeutics Price Performance

NASDAQ ITOS opened at $8.46 on Friday. The business has a 50 day simple moving average of $10.54 and a 200 day simple moving average of $14.03. iTeos Therapeutics has a 52-week low of $8.05 and a 52-week high of $18.75.

Institutional Trading of iTeos Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in iTeos Therapeutics by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 11,071 shares of the company’s stock valued at $164,000 after purchasing an additional 690 shares in the last quarter. Creative Planning boosted its stake in shares of iTeos Therapeutics by 6.5% during the 3rd quarter. Creative Planning now owns 19,636 shares of the company’s stock worth $200,000 after buying an additional 1,196 shares during the last quarter. nVerses Capital LLC grew 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 acquiring an additional 1,700 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of iTeos Therapeutics by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 39,003 shares of the company’s stock valued at $532,000 after acquiring an additional 1,817 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in iTeos Therapeutics by 60.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 7,024 shares of the company’s stock worth $72,000 after acquiring an additional 2,646 shares in the last quarter. 97.16% of the stock is currently owned by institutional investors and hedge funds.

iTeos Therapeutics Company Profile

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.