Wedbush Downgrades iTeos Therapeutics (ITOS) to Neutral

Wedbush analyst David Nierengarten downgrades iTeos Therapeutics (NASDAQ: ITOS) to Neutral (from Outperform) with a PT of $12.00 (from $10.00).

The analyst comments "TOS announced plans to wind down operations and explore asset sales from its pipeline. The company maintained a cash position of $624MM as of March 31, 2025 ($14/sh) and we anticipate cash of ~$530MM (~$12/sh) in one year based on severance and wind-down costs of over $57MM. We view this decision as the best available option for maximizing near-term shareholder value. We are downgrading to NEUTRAL (from OUTPERFORM) but raising our PT to $12 (from $10)."

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