Latigo Biotherapeutics (NASDAQ:LTGO) Posts Quarterly Earnings Results

Latigo Biotherapeutics (NASDAQ:LTGO) issued its quarterly earnings data on Thursday. The company reported ($0.55) EPS for the quarter, Zacks reports.

Latigo Biotherapeutics Stock Down 7.3%

LTGO traded down $1.03 during midday trading on Thursday, reaching $13.01. The company’s stock had a trading volume of 424,278 shares, compared to its average volume of 201,918. The firm has a fifty day simple moving average of $18.20. Latigo Biotherapeutics has a twelve month low of $10.24 and a twelve month high of $25.93.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $50.00 target price for the company. Weiss Ratings began coverage on Latigo Biotherapeutics in a report on Tuesday. They set a “sell (e-)” rating on the stock. Guggenheim assumed coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price target on the stock. Wall Street Zen lowered shares of Latigo Biotherapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Leerink Partners assumed coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 target price on the stock. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.25.

Trending Headlines about Latigo Biotherapeutics

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

• Positive Sentiment: Latigo appointed Todd Smith, an executive with experience commercializing pain therapies, as president and CEO to lead the company through late-stage development and potential commercialization of its non-opioid pain programs. CEO transition announcement
• Positive Sentiment: Latigo said Phase 3 bunionectomy and open-label safety trials of onzotrigine remain on track to begin, with topline results expected in the second half of 2027. Keeping the program on schedule supports its clinical outlook, although results are still some time away. Third-quarter results and business highlights
• Positive Sentiment: Third-quarter GAAP EPS was a loss of $0.55, beating analyst expectations by $0.12. The earnings beat is encouraging, but does not mean the company was profitable. EPS report
• Neutral Sentiment: LTGO trading was temporarily paused under a Limit Up-Limit Down (LULD) volatility pause. This is a market trading measure and, by itself, does not indicate a change in the company’s fundamentals.
• Negative Sentiment: The company remains loss-making, and the anticipated onzotrigine trial readout is not expected until the second half of 2027, leaving substantial time before a major clinical catalyst.

Insider Buying and Selling

In other Latigo Biotherapeutics news, major shareholder Foresite Capital Management V, acquired 140,000 shares of Latigo Biotherapeutics stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $18.00 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James B. Tananbaum acquired 140,000 shares of the stock in a transaction dated 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 purchase, the director 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 Company Profile

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.