iTeos Therapeutics price target lowered to $33 from $45 at Wedbush

Wedbush analyst David Nierengarten lowered the firm’s price target on iTeos Therapeutics to $33 from $45 and keeps an Outperform rating on the shares. The firm notes iTeos reported Q4/2022 financial results and updated its programs’ guidance for 2023. ITOS continues to enroll patients in its Phase 2 trial of inupadenant + chemotherapy vs. standard of care in post I/O non-squamous NSCLC. Furthermore, ITOS completed enrollment in the biomarker-high cohort of its Phase 1/2a IO-001 study of inupadenant monotherapy in solid tumors, Wedbush adds.