iTeos TherapeuticsNASDAQ: ITOS

iTeos Therapeutics, Inc. (ITOS) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

The average of price targets set by Wall Street analysts indicates a potential upside of 283.6% in iTeos Therapeutics, Inc. (ITOS). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

iTeos Therapeutics, Inc. (ITOS) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

iTeos Therapeutics, Inc. (ITOS) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.

iTeos Therapeutics focuses on developing immuno-oncology treatments for cancer patients, with a focus on TIGIT-targeted therapies. Roche's accidental disclosure of positive data on its anti-TIGIT therapy led to a surge in iTeos' stock value. iTeos has a strong financial position with $677.5M in liquid assets and a negative enterprise value, making it an attractive investment opportunity.

Today, we circle back on small oncology concern iTeos Therapeutics, Inc. for the first time since last July. The company is advancing its two primary compounds in its pipeline and has a potentially lucrative partnership with GlaxoSmithKline. The stock also trades under the net cash on iTeos' balance sheet. An updated investment analysis follows in the paragraphs below.