Latigo Biotherapeutics (NASDAQ:LTGO) Posts Earnings Results

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

Latigo Biotherapeutics Trading Down 3.2%

Shares of Latigo Biotherapeutics stock traded down $0.41 on Friday, hitting $12.60. 556,046 shares of the company traded hands, compared to its average volume of 221,203. The company’s 50-day simple moving average is $17.95. The company has a market capitalization of $835.38 million and a P/E ratio of -0.24. Latigo Biotherapeutics has a 12-month low of $10.24 and a 12-month high of $25.93.

Insiders Place Their Bets

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

Key Latigo Biotherapeutics News

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

• Positive Sentiment: Latigo reported a third-quarter loss of $0.55 per share, beating analyst estimates by $0.12. Earnings estimate beat
• Positive Sentiment: The company says Phase 3 bunionectomy and open-label safety trials for onzotrigine remain on track to begin, with topline results expected in the second half of 2027. Third-quarter results and business highlights
• Positive Sentiment: Latigo appointed pain-sector executive Todd Smith as president and CEO. His commercialization experience could support the company’s plans to advance and potentially commercialize non-opioid pain treatments. CEO appointment
• Neutral Sentiment: LTGO trading was temporarily paused twice under limit-up/limit-down volatility rules. The pauses indicate heightened volatility, not a specific direction or cause.
• Negative Sentiment: Despite beating estimates, Latigo still reported a quarterly loss, and the expected Phase 3 readout is not until the second half of 2027, leaving substantial time and clinical-development risk before a potential catalyst. Third-quarter and nine-month results

Analyst Ratings Changes

Several research firms recently issued reports on LTGO. Weiss Ratings assumed coverage on Latigo Biotherapeutics in a research note on Tuesday. They set a “sell (e-)” rating for the company. The Goldman Sachs Group initiated coverage on Latigo Biotherapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $73.00 target price on the stock. Leerink Partners began coverage on Latigo Biotherapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $36.00 price target on the stock. Wall Street Zen raised Latigo Biotherapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Guggenheim initiated coverage on Latigo Biotherapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $50.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.25.

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.