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

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) has received an average recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $52.25.

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

Insiders Place Their Bets

In other news, major shareholder Foresite Capital Management V, bought 140,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the purchase, the insider owned 2,008,024 shares in the company, 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 document filed with the SEC, which is available at the SEC website. Also, Director James Tananbaum acquired 140,000 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the purchase, the director owned 2,008,024 shares of the company’s stock, valued at approximately $36,144,432. This trade represents a 7.49% increase in their position. The SEC filing for this purchase provides additional information.

Latigo Biotherapeutics Stock Performance

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

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

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.