As previously reported, Wedbush analyst David Nierengarten downgraded iTeos Therapeutics (ITOS) to Neutral from Outperform with a price target of $12, up from $10, after the company announced plans to wind down operations and explore asset sales from its pipeline. The company maintained a cash position of $624M as of March 31, notes the firm, which anticipates cash of $530M, or $12 per share, in one year based on severance and wind-down costs of over $57M.
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Read More on ITOS:
- iTeos Therapeutics downgraded to Neutral from Outperform at Wedbush
- iTeos Therapeutics Announces Strategic Wind Down Plan
- iTeos Therapeutics announces intention to wind down operations
- iTeos Therapeutics price target lowered to $13 from $16 at Wells Fargo
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