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iTeos Therapeutics price target lowered to $12 from $16 at Piper Sandler

Piper Sandler analyst Christopher Raymond lowered the firm’s price target on iTeos Therapeutics to $12 from $16 and keeps an Overweight rating on the shares. The firm notes belrestotug + dostarlimab failed to meet pre-specified PFS in the GALAXIES Lung-201 study and showed insufficient ORR in the H&N-202 study. iTeos (ITOS) and GSK (GSK) are discontinuing the belrestotug program including the Phase III Lung-301 trial, and evaluating strategic alternatives.

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