Latigo Biotherapeutics, Inc. (LTGO) – What Are Investment Firms Thinking About This Stock?

Shares of Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) have received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $52.25.

Several analysts have issued reports on the company. The Goldman Sachs Group initiated coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $73.00 price target for the company. Wall Street Zen cut Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Weiss Ratings initiated coverage on Latigo Biotherapeutics in a research report on Tuesday. They set a “sell (e-)” rating on the stock. Jefferies Financial Group initiated coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $50.00 price objective for the company. Finally, Leerink Partners began coverage on shares of Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set an “outperform” rating and a $36.00 target price on the stock.

Latigo Biotherapeutics Trading Up 7.8%

Shares of NASDAQ LTGO opened at $14.57 on Wednesday. The business has a 50 day moving average price of $18.59. The company has a market capitalization of $965.99 million and a P/E ratio of -0.28. Latigo Biotherapeutics has a 52-week low of $13.26 and a 52-week high of $25.93.

Latigo Biotherapeutics (NASDAQ:LTGO) last released its quarterly earnings data on Thursday, September 3rd. The company reported ($27.59) EPS for the quarter.

Insider Buying and Selling

In other news, Director James B. Tananbaum acquired 140,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the acquisition, the director directly owned 2,008,024 shares of the company’s stock, valued at approximately $36,144,432. The trade was a 7.49% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Foresite Capital Management V, acquired 140,000 shares of the stock in a transaction on Monday, August 10th. The shares were acquired at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the transaction, the insider directly owned 2,008,024 shares of the company’s stock, valued at $36,144,432. The trade was a 7.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Latigo Biotherapeutics Company Profile

Latigo Biotherapeutics, Inc is a clinical-stage biopharmaceutical company developing non-opioid treatments for pain. The company focuses on therapies designed to selectively target Nav1.8, a sodium channel expressed in peripheral sensory neurons that plays an important role in the transmission of pain signals.

Latigo’s lead product candidate, LTG-001, is an oral, selective Nav1.8 inhibitor being developed for the treatment of acute and chronic pain conditions. By targeting pain signaling outside the central nervous system, the company aims to develop alternatives to opioid medicines and other pain treatments that may carry significant safety or tolerability concerns.