Wells Fargo Downgrades iTeos Therapeutics to Equal-Weight, PT to $11 from $12

Wells Fargo Downgrades iTeos Therapeutics to Equal-Weight, PT to $11 from $12

Wells Fargo has downgraded its rating for Iteos Therapeutics Inc. (ITOS) from "overweight" to "equal-weight," reducing its price target (PT) from $12 to $11. The move comes after the company reported a quarterly adjusted loss of $1.43 per share for the period ended June 30, 2025, which missed analysts' expectations of a loss of $1.01 per share. The company's revenue for the quarter was zero, as expected.

The downgrade was likely influenced by the company's continued financial struggles, as evidenced by its quarterly loss of $78.73 million. Additionally, the mean earnings estimate of analysts had fallen by about 10.6% in the last three months, indicating a growing concern among analysts about the company's financial health.

Wells Fargo's new rating and PT reflect a more cautious stance on the company's prospects. However, it's important to note that the company's stock has gained 31.6% so far this year, and its shares had risen by 1.4% this quarter. This suggests that despite the recent earnings miss, the market remains optimistic about the company's long-term potential.

Investors should carefully consider the implications of this downgrade and conduct their own research before making any investment decisions.

References:
[1] https://www.marketbeat.com/instant-alerts/filing-empower-advisory-group-llc-sells-11787-shares-of-wells-fargo-company-nysewfc-2025-08-06/
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L8N3TZ30X:0-iteos-therapeutics-inc-reports-results-for-the-quarter-ended-june-30-earnings-summary/