Latigo Biotherapeutics (NASDAQ:LTGO) Stock Price Up 5.1% – Should You Buy?

Shares of Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) traded up 5.1% during mid-day trading on Thursday. The company traded as high as $17.55 and last traded at $17.55. 15,697 shares traded hands during trading, a decline of 95% from the average session volume of 304,468 shares. The stock had previously closed at $16.70.

Analyst Ratings Changes

Several analysts have recently commented on the stock. 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 price target on the stock. Wall Street Zen raised Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Jefferies Financial Group assumed coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Guggenheim began coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Leerink Partners began coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 target price for the company. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Latigo Biotherapeutics currently has an average rating of “Buy” and an average price target of $52.25.

Latigo Biotherapeutics Price Performance

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

Insiders Place Their Bets

In other Latigo Biotherapeutics news, major shareholder Foresite Capital Management V, bought 140,000 shares of the stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $18.00 per share, with a total value of $2,520,000.00. Following the acquisition, the insider owned 2,008,024 shares of the company’s stock, valued at approximately $36,144,432. The trade was a 7.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Tananbaum bought 140,000 shares of the company’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 transaction, the director directly owned 2,008,024 shares in the company, valued at approximately $36,144,432. The trade was a 7.49% increase in their position. The SEC filing for this purchase provides additional information.

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.