Latigo Biotherapeutics (NASDAQ:LTGO) Posts Earnings Results

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

Latigo Biotherapeutics Trading Up 3.3%

Shares of LTGO stock traded up $0.71 during trading hours on Thursday, hitting $22.48. The company had a trading volume of 229,228 shares, compared to its average volume of 226,738. Latigo Biotherapeutics has a 12 month low of $17.22 and a 12 month high of $25.93.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LTGO. Leerink Partners started coverage on Latigo Biotherapeutics in a report on Tuesday. They issued an “outperform” rating and a $36.00 target price on the stock. The Goldman Sachs Group assumed coverage on Latigo Biotherapeutics in a research report on Tuesday. They issued a “buy” rating and a $73.00 price objective for the company. Wall Street Zen upgraded shares of Latigo Biotherapeutics to a “hold” rating in a research note on Saturday, August 15th. Jefferies Financial Group initiated coverage on shares of Latigo Biotherapeutics in a research report on Tuesday. They set a “buy” rating and a $50.00 target price on the stock. Finally, Guggenheim started coverage on shares of Latigo Biotherapeutics in a research note on Tuesday. They set a “buy” rating and a $50.00 target price for the company. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $52.25.

Insiders Place Their Bets

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

About Latigo Biotherapeutics

Latigo Biotherapeutics Inc is a clinical-stage biopharmaceutical company committed to developing innovative non-opioid pain medicines designed to stop the transmission of pain without the risk of addiction. Its lead product candidate includes LTG-001. Latigo Biotherapeutics Inc is based in THOUSAND OAKS, Calif.