Latigo Biotherapeutics (NASDAQ:LTGO) Stock Gets Downgrade from Wall Street Zen

Latigo Biotherapeutics (NASDAQ:LTGO) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

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

Latigo Biotherapeutics Stock Performance

NASDAQ LTGO opened at $14.00 on Friday. The business’s 50-day moving average is $19.87. The firm has a market cap of $928.20 million and a P/E ratio of -0.26. Latigo Biotherapeutics has a 1 year low of $13.50 and a 1 year high of $25.93.

Latigo Biotherapeutics (NASDAQ:LTGO) last posted its quarterly earnings data on Thursday, September 3rd. The company reported ($27.59) EPS for the quarter.

Insider Activity

In other Latigo Biotherapeutics news, major shareholder Foresite Capital Management V, acquired 140,000 shares of Latigo Biotherapeutics stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Tananbaum acquired 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were acquired 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 directly owned 2,008,024 shares in the company, valued at approximately $36,144,432. This trade represents a 7.49% increase in their position. The disclosure for this purchase is available in the SEC filing.

About Latigo Biotherapeutics

Latigo Biotherapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing non-opioid treatments for acute and chronic pain. The company’s research centers on selectively targeting Nav1.8, a sodium channel involved in the transmission of pain signals, with the goal of creating therapies that may provide pain relief without the risks associated with opioid medicines.

Latigo’s pipeline includes small-molecule Nav1.8 inhibitors, including LTG-001, an investigational candidate being evaluated for pain-related conditions.