Latigo Biotherapeutics (NASDAQ:LTGO) Issues Quarterly Earnings Results

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

Latigo Biotherapeutics Trading Down 7.3%

Shares of LTGO traded down $1.03 during mid-day trading on Thursday, reaching $13.01. The stock had a trading volume of 424,278 shares, compared to its average volume of 201,918. Latigo Biotherapeutics has a 52-week low of $10.24 and a 52-week high of $25.93. The company has a fifty day moving average of $18.20.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director James Tananbaum bought 140,000 shares of Latigo Biotherapeutics stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $18.00 per share, with a total value of $2,520,000.00. Following the completion of the purchase, the director directly owned 2,008,024 shares of the company’s stock, valued at approximately $36,144,432. This trade represents 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 link. Also, major shareholder Foresite Capital Management V, bought 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $2,520,000.00. Following the completion of the acquisition, the insider 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.

Key Stories Impacting 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.

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.