Strength Seen in iTeos Therapeutics, Inc. (ITOS): Can Its 7.4% Jump Turn into More Strength?
iTeos Therapeutics, Inc. (ITOS) shares ended the last trading session 7.4% higher at $10.65. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.8% loss over the past four weeks.
Last month, the company outlined key strategic priorities and certain anticipated milestones that it looks to achieve in 2024. This might have driven the share price rally.
This company is expected to post quarterly loss of $1.03 per share in its upcoming report, which represents a year-over-year change of -280.7%. Revenues are expected to be $37.41 million, down 30.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For iTeos Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ITOS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
iTeos Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, IGM Biosciences, Inc. (IGMS), closed the last trading session 1% higher at $12.94. Over the past month, IGMS has returned 19.9%.
IGM Biosciences, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.06. Compared to the company's year-ago EPS, this represents a change of +10.9%. IGM Biosciences, Inc. currently boasts a Zacks Rank of #2 (Buy).
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iTeos Therapeutics, Inc. (ITOS) : Free Stock Analysis Report
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