Latigo Biotherapeutics (NASDAQ:LTGO) Releases Quarterly Earnings Results

Latigo Biotherapeutics (NASDAQ:LTGO) announced its quarterly earnings results on Thursday. The company reported ($0.55) earnings per share for the quarter, Zacks reports.

Latigo Biotherapeutics Stock Down 5.5%

Shares of NASDAQ:LTGO traded down $0.71 on Friday, hitting $12.30. The company’s stock had a trading volume of 214,167 shares, compared to its average volume of 286,216. The firm’s 50-day moving average price is $18.20. Latigo Biotherapeutics has a 1 year low of $10.24 and a 1 year high of $25.93. The stock has a market cap of $815.49 million and a P/E ratio of -0.23.

Analyst Ratings Changes

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

Insider Activity

In other Latigo Biotherapeutics news, Director James Tananbaum acquired 140,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Foresite Capital Management V, acquired 140,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $18.00 per share, for a total transaction of $2,520,000.00. Following the completion of the transaction, the insider owned 2,008,024 shares of the company’s stock, valued at $36,144,432. The trade was a 7.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Latigo Biotherapeutics News Roundup

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

• Positive Sentiment: Latigo reported third-quarter GAAP EPS of -$0.55, beating consensus estimates by $0.12. The company still recorded a loss, but the better-than-expected result may provide some support for investor sentiment. Article
• Positive Sentiment: The board appointed Todd Smith, an executive with pain-therapy commercialization experience, as president and CEO. His appointment is intended to lead the company through late-stage development and potential commercialization of its non-opioid pain programs. Article
• Positive Sentiment: Latigo said Phase 3 bunionectomy and open-label safety trials for onzotrigine remain on track to begin, with topline results expected in the second half of 2027. Keeping the program on schedule is encouraging, although meaningful trial results are still some time away. Article
• Neutral Sentiment: LTGO trading was temporarily paused under a Limit Up-Limit Down (LULD) volatility rule. The pause signals sharp price movement, but by itself does not indicate a change in the company’s fundamentals.

About Latigo Biotherapeutics

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.