Latigo Biotherapeutics (NASDAQ:LTGO) Stock Bumped Up to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of Latigo Biotherapeutics (NASDAQ:LTGO) from a sell rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

LTGO has been the subject of a number of other research reports. Guggenheim began coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $50.00 price objective for the company. Jefferies Financial Group assumed coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $50.00 target price for the company. Leerink Partners initiated coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $73.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $52.25.

Latigo Biotherapeutics Stock Down 3.4%

Shares of NASDAQ LTGO opened at $17.15 on Friday. Latigo Biotherapeutics has a 1-year low of $17.00 and a 1-year high of $25.93.

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

Insider Transactions at Latigo Biotherapeutics

In other news, Director James Tananbaum purchased 140,000 shares of the business’s stock in a transaction dated 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 purchase, the director owned 2,008,024 shares of the company’s stock, valued at $36,144,432. This trade represents a 7.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Foresite Capital Management V, acquired 140,000 shares of the stock in a transaction dated Monday, August 10th. The stock was purchased 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 $36,144,432. This trade represents a 7.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

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.