Latigo Biotherapeutics (NASDAQ:LTGO) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Latigo Biotherapeutics from “Sell” to “Hold,” while four other analysts maintain bullish ratings. The stock has a consensus “Buy” rating and a $52.25 price target.
• Latigo shares opened at $17.15, near their 52-week low of $17.00 and below the $25.93 high. The company reported quarterly earnings of ($27.59) per share.
• Company insiders increased their positions, with Director James B. Tananbaum and Foresite Capital Management each purchasing 140,000 shares at $18 per share. Latigo is developing non-opioid pain treatments targeting the Nav1.8 sodium channel.

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

Several other research firms have also weighed in on LTGO. The Goldman Sachs Group began coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a "buy" rating and a $73.00 target price on the stock. Guggenheim initiated coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a "buy" rating and a $50.00 price target for the company. Leerink Partners started coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued an "outperform" rating and a $36.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a "buy" rating and a $50.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Latigo Biotherapeutics presently has a consensus rating of "Buy" and a consensus price target of $52.25.

Latigo Biotherapeutics Stock Performance

Shares of Latigo Biotherapeutics stock opened at $17.15 on Friday. Latigo Biotherapeutics has a 52 week low of $17.00 and a 52 week high of $25.93.

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

Insiders Place Their Bets

In other Latigo Biotherapeutics news, Director James B. Tananbaum bought 140,000 shares of Latigo Biotherapeutics stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $2,520,000.00. Following the completion of the acquisition, the director owned 2,008,024 shares in the company, valued at approximately $36,144,432. The trade was a 7.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Foresite Capital Management V, bought 140,000 shares of the firm's stock in a transaction on 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 completion of the purchase, the insider 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.

About Latigo Biotherapeutics

Latigo Biotherapeutics is a clinical-stage biopharmaceutical company developing non-opioid medicines for the treatment of acute and chronic pain. The company focuses on selectively targeting Nav1.8, a sodium channel involved in the transmission of pain signals, with the goal of developing therapies that may provide pain relief without the risks associated with opioid medications.

Latigo's pipeline includes small-molecule Nav1.8 inhibitors, led by LTG-001 for acute pain and additional research programs aimed at chronic pain conditions.

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