Latigo Biotherapeutics (NASDAQ:LTGO) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen downgraded Latigo Biotherapeutics from “hold” to “sell,” despite MarketBeat reporting a consensus “buy” rating and an average price target of $52.25 from four analysts.
• Several firms recently initiated coverage with positive ratings: Leerink Partners set a $36 target, while Goldman Sachs, Jefferies, and Guggenheim issued “buy” ratings with targets ranging from $50 to $73.
• LTGO opened at $23.04, within a 12-month range of $17.22 to $25.93, and reported a quarterly loss of $27.59 per share. Director James Tananbaum and major shareholder Foresite Capital each purchased 140,000 shares at $18 per share.

Latigo Biotherapeutics (NASDAQ:LTGO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

LTGO has been the topic of a number of other research reports. Leerink Partners began coverage on shares of Latigo Biotherapeutics in a research report on Tuesday. They issued an "outperform" rating and a $36.00 target price on the stock. The Goldman Sachs Group started coverage on shares of Latigo Biotherapeutics in a report on Tuesday. They set a "buy" rating and a $73.00 price target for the company. Jefferies Financial Group began coverage on Latigo Biotherapeutics in a report on Tuesday. They set a "buy" rating and a $50.00 price objective on the stock. Finally, Guggenheim began coverage on Latigo Biotherapeutics in a research report on Tuesday. They set a "buy" rating and a $50.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $52.25.

Latigo Biotherapeutics Price Performance

LTGO stock opened at $23.04 on Friday. Latigo Biotherapeutics has a 12 month low of $17.22 and a 12 month high of $25.93.

Latigo Biotherapeutics (NASDAQ:LTGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 3rd. The company reported ($27.59) earnings per share (EPS) for the quarter.

Insider Transactions at Latigo Biotherapeutics

In related news, Director James Tananbaum purchased 140,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the purchase, the director owned 2,008,024 shares in the company, valued at approximately $36,144,432. This represents a 7.49% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Foresite Capital Management V, acquired 140,000 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the completion of 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. The disclosure for this purchase is available in the SEC filing.

Latigo Biotherapeutics Company Profile

Latigo Biotherapeutics Inc is a clinical-stage biopharmaceutical company committed to developing innovative non-opioid pain medicines designed to stop the transmission of pain without the risk of addiction. Its lead product candidate includes LTG-001. Latigo Biotherapeutics Inc is based in THOUSAND OAKS, Calif.

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