iTeos Therapeutics (ITOS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on the stock and has a $21.00 price target.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors surrounding iTeos Therapeutics’ promising clinical developments and financial stability. The company is on track to release significant interim data from its Phase 2 GALAXIES Lung-201 study in 2025, which evaluates the combination of belrestotug and dostarlimab for treating NSCLC. Previous data showed promising objective response rates, and the upcoming results, including those from a triplet arm with an investigational antibody, could further validate the treatment’s efficacy.
Additionally, iTeos plans to present interim data from its Phase 2 study for HNSCC and expects topline results from its adenosine program in the latter half of 2025. Despite reporting no revenue in the first quarter of 2025, the company’s financial position remains strong with cash reserves expected to support operations through 2027. This financial stability, coupled with the potential of its clinical programs, underpins the Buy rating recommendation.
Ramakanth covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, ImmunoPrecise Antibodies, and Evaxion Biotech. According to TipRanks, Ramakanth has an average return of -2.1% and a 31.46% success rate on recommended stocks.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $16.00 price target.