Latigo Biotherapeutics (NASDAQ:LTGO) Sees Large Volume Increase – Should You Buy?

Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) shares saw unusually-high trading volume on Tuesday. 535,285 shares were traded during mid-day trading, an increase of 86% from the average daily volume of 288,307 shares. The stock last traded at $13.60 and had previously closed at $13.35.

Wall Street Analyst Weigh In

LTGO has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price target for the company. Wall Street Zen raised Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Leerink Partners initiated coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 target price on the stock. Weiss Ratings assumed coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, November 3rd. They set a “sell (e-)” rating for the company. Finally, Guggenheim started coverage on shares of Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $50.00 price objective for the company. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.25.

Latigo Biotherapeutics Price Performance

The company’s fifty day moving average is $17.73. The stock has a market capitalization of $873.83 million and a PE ratio of -0.25.

Latigo Biotherapeutics (NASDAQ:LTGO) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.55) EPS for the quarter.

Latigo Biotherapeutics Company Profile

Latigo Biotherapeutics is a clinical-stage biopharmaceutical company developing non-opioid medicines for pain. Its research focuses on voltage-gated sodium channels, which play a role in transmitting pain signals. The company’s pipeline includes LTG-001, an oral, selective Nav1.8 inhibitor being developed for acute pain, along with additional investigational programs targeting pain conditions. Latigo’s work is aimed at providing alternatives to opioid-based pain treatment. Its product candidates are investigational and have not been established as safe or effective for any use.