Wells Fargo analyst Eva Fortea Verdejo maintained a Buy rating on iTeos Therapeutics (ITOS – Research Report) yesterday and set a price target of $13.00.
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Eva Fortea Verdejo has given her Buy rating due to a combination of factors surrounding iTeos Therapeutics’ recent strategic developments. The termination of the collaboration with GSK on the TIGIT program, while raising questions about future strategy, is seen as a positive move. This decision allows iTeos to preserve capital and potentially redirect resources towards more promising programs.
Despite the uncertainty, iTeos is well-capitalized with $624 million reported at the end of the first quarter of 2025, providing a solid financial foundation to pursue its earlier programs. The stock’s pre-market rise of 18% reflects market confidence in the company’s potential, particularly with anticipated updates from their EOS-984 and EOS-215 programs. Verdejo believes that these updates, along with further clarity on the company’s strategic direction, will serve as significant catalysts for the stock’s future performance.
According to TipRanks, Fortea Verdejo is an analyst with an average return of -6.4% and a 45.45% success rate. Fortea Verdejo covers the Healthcare sector, focusing on stocks such as Xencor, iTeos Therapeutics, and Bicara Therapeutics Inc..
In another report released on April 29, Piper Sandler also reiterated a Buy rating on the stock with a $16.00 price target.