Latigo Biotherapeutics (NASDAQ:LTGO) Stock Rating Upgraded by Guggenheim

Key Points

• Guggenheim upgraded Latigo Biotherapeutics to “strong buy,” while analysts broadly maintained a positive outlook. The stock has a consensus “strong buy” rating and an average price target of $52.25.
• Several firms initiated coverage with bullish ratings and price targets, including Goldman Sachs at $73, Jefferies at $50, and Leerink Partners at $36.
• Latigo shares opened at $22.26 and were up 1.1%; major shareholder Foresite Capital and director James B. Tananbaum each purchased 140,000 shares at $18 per share.

Latigo Biotherapeutics (NASDAQ:LTGO - Get Free Report) was upgraded by Guggenheim to a "strong-buy" rating in a report issued on Tuesday, Zacks reports.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group began coverage on shares of Latigo Biotherapeutics in a report on Tuesday. They set a "buy" rating and a $73.00 target price on the stock. Leerink Partners began coverage on Latigo Biotherapeutics in a research report on Tuesday. They issued an "outperform" rating and a $36.00 target price for the company. Wall Street Zen raised Latigo Biotherapeutics to a "hold" rating in a research report on Saturday, August 15th. Finally, Jefferies Financial Group began coverage on shares of Latigo Biotherapeutics in a research report on Tuesday. They set a "buy" rating and a $50.00 target price on the stock. Four investment analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Strong Buy" and a consensus price target of $52.25.

Latigo Biotherapeutics Trading Up 1.1%

NASDAQ LTGO opened at $22.26 on Tuesday. Latigo Biotherapeutics has a one year low of $17.22 and a one year high of $25.93.

Insiders Place Their Bets

In related news, major shareholder Foresite Capital Management V, purchased 140,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the acquisition, the insider 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James B. Tananbaum purchased 140,000 shares of Latigo Biotherapeutics stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $2,520,000.00. Following the transaction, 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 position. 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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