Latigo Biotherapeutics (NASDAQ:LTGO) Upgraded at Leerink Partners

Key Points

• Leerink Partners upgraded Latigo Biotherapeutics to “strong buy.” The company has a consensus “Strong Buy” rating from analysts and a consensus price target of $52.25, with recent targets ranging from $50 to $73.
• Latigo shares opened at $22.26, up 1.1%, with a 52-week range of $17.22 to $25.93.
• Major shareholder Foresite Capital Management V and director James B. Tananbaum each purchased 140,000 shares at $18 per share, increasing their holdings by 7.49%.

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

LTGO has been the subject of a number of other research reports. Guggenheim started coverage on shares of Latigo Biotherapeutics in a research report on Tuesday. They set a "buy" rating and a $50.00 target price for the company. Jefferies Financial Group assumed coverage on Latigo Biotherapeutics in a report on Tuesday. They set a "buy" rating and a $50.00 price objective for the company. Wall Street Zen raised Latigo Biotherapeutics to a "hold" rating in a research report on Saturday, August 15th. Finally, The Goldman Sachs Group began coverage on Latigo Biotherapeutics in a research note on Tuesday. They set a "buy" rating and a $73.00 target price on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and a consensus price target of $52.25.

Latigo Biotherapeutics Stock Up 1.1%

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

Insider Buying and Selling at Latigo Biotherapeutics

In related news, major shareholder Foresite Capital Management V, bought 140,000 shares of the company'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 in the company, valued at approximately $36,144,432. The trade was a 7.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James B. Tananbaum purchased 140,000 shares of Latigo Biotherapeutics stock in a transaction that occurred on 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 director owned 2,008,024 shares of the company's stock, valued at $36,144,432. This represents 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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