Latigo Biotherapeutics (NASDAQ:LTGO) Shares Down 8.9% – Time to Sell?

Shares of Latigo Biotherapeutics, Inc. (NASDAQ:LTGO) traded down 8.9% during mid-day trading on Thursday. The company traded as low as $12.20 and last traded at $12.32. 28,893 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 293,849 shares. The stock had previously closed at $13.52.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LTGO. Guggenheim assumed coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price target for the company. The Goldman Sachs Group started coverage on shares of Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $73.00 price objective on the stock. Wall Street Zen upgraded shares of Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Leerink Partners assumed coverage on shares of Latigo Biotherapeutics in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Latigo Biotherapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $50.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Latigo Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $52.25.

Latigo Biotherapeutics Trading Down 6.1%

The firm has a market cap of $841.35 million and a P/E ratio of -0.24. The business has a 50-day simple moving average of $17.39.

Latigo Biotherapeutics (NASDAQ:LTGO) last issued 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.