Latigo Biotherapeutics (NASDAQ:LTGO) Posts Earnings Results

Key Points

• Latigo reported a third-quarter loss of $0.55 per share, beating analyst expectations by $0.12, but the company remains unprofitable.
• Shares fell $1.03 to $13.01 in Thursday trading. Major shareholder Foresite Capital Management V and director James B. Tananbaum each purchased 140,000 shares at $18 per share.
• Latigo said Phase 3 trials of its pain candidate onzotrigine remain on schedule, with topline results expected in the second half of 2027. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $52.25.

Latigo Biotherapeutics (NASDAQ:LTGO - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.55) earnings per share (EPS) for the quarter, Zacks reports.

Latigo Biotherapeutics Price Performance

Shares of Latigo Biotherapeutics stock traded down $1.03 during trading on Thursday, hitting $13.01. 424,278 shares of the stock traded hands, compared to its average volume of 201,918. Latigo Biotherapeutics has a twelve month low of $10.24 and a twelve month high of $25.93. The business's fifty day moving average is $18.20.

Insider Activity at Latigo Biotherapeutics

In other Latigo Biotherapeutics news, 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 bought at an average price of $18.00 per share, for a total transaction of $2,520,000.00. Following the purchase, the insider directly owned 2,008,024 shares in the company, valued at $36,144,432. This trade represents a 7.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James B. Tananbaum purchased 140,000 shares of the company's stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $2,520,000.00. Following the purchase, the director owned 2,008,024 shares in the company, 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.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LTGO. Leerink Partners assumed coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set an "outperform" rating and a $36.00 price objective on the stock. Guggenheim initiated coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a "buy" rating and a $50.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set a "buy" rating and a $73.00 target price for the company. Wall Street Zen lowered shares of Latigo Biotherapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, October 17th. Finally, Weiss Ratings began coverage on shares of Latigo Biotherapeutics in a report on Tuesday. They set a "sell (e-)" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $52.25.

Key Headlines Impacting Latigo Biotherapeutics

Here are the key news stories impacting Latigo Biotherapeutics this week:

• Positive Sentiment: Latigo appointed Todd Smith, an executive with experience commercializing pain therapies, as president and CEO to lead the company through late-stage development and potential commercialization of its non-opioid pain programs. CEO transition announcement
• Positive Sentiment: Latigo said Phase 3 bunionectomy and open-label safety trials of onzotrigine remain on track to begin, with topline results expected in the second half of 2027. Keeping the program on schedule supports its clinical outlook, although results are still some time away. Third-quarter results and business highlights
• Positive Sentiment: Third-quarter GAAP EPS was a loss of $0.55, beating analyst expectations by $0.12. The earnings beat is encouraging, but does not mean the company was profitable. EPS report
• Neutral Sentiment: LTGO trading was temporarily paused under a Limit Up-Limit Down (LULD) volatility pause. This is a market trading measure and, by itself, does not indicate a change in the company’s fundamentals.
• Negative Sentiment: The company remains loss-making, and the anticipated onzotrigine trial readout is not expected until the second half of 2027, leaving substantial time before a major clinical catalyst.

Latigo Biotherapeutics Company Profile

Latigo Biotherapeutics, Inc is a clinical-stage biopharmaceutical company developing non-opioid treatments for pain. The company focuses on therapies designed to selectively target Nav1.8, a sodium channel expressed in peripheral sensory neurons that plays an important role in the transmission of pain signals.

Latigo's lead product candidate, LTG-001, is an oral, selective Nav1.8 inhibitor being developed for the treatment of acute and chronic pain conditions. By targeting pain signaling outside the central nervous system, the company aims to develop alternatives to opioid medicines and other pain treatments that may carry significant safety or tolerability concerns.

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