Latigo Biotherapeutics (NASDAQ:LTGO) Stock Rating Upgraded by Jefferies Financial Group

Key Points

• Jefferies upgraded Latigo Biotherapeutics to “strong buy,” contributing to a consensus “Strong Buy” rating from four analysts and an average price target of $52.25.
• Recent analyst coverage was broadly positive, including price targets of $36 from Leerink Partners, $73 from Goldman Sachs, and $50 from Guggenheim.
• Latigo shares opened at $22.26, while director James B. Tananbaum and major shareholder Foresite Capital each purchased 140,000 shares at $18 per share, increasing their positions by 7.49%.

Latigo Biotherapeutics (NASDAQ:LTGO - Get Free Report) was upgraded by equities research analysts at Jefferies Financial Group to a "strong-buy" rating in a report issued on Tuesday, Zacks reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Latigo Biotherapeutics to a "hold" rating in a research report on Saturday, August 15th. Leerink Partners assumed 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 initiated 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. Finally, Guggenheim initiated coverage on Latigo Biotherapeutics in a report on Tuesday. They set a "buy" rating and a $50.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, Latigo Biotherapeutics presently has a consensus rating of "Strong Buy" and an average price target of $52.25.

Latigo Biotherapeutics Price Performance

LTGO stock opened at $22.26 on Tuesday. Latigo Biotherapeutics has a 12 month low of $17.22 and a 12 month high of $25.93.

Insider Activity at Latigo Biotherapeutics

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