Goldman Sachs Sticks to 'Buy' Rating on Latigo Biotherapeutics

Goldman Sachs has reaffirmed its 'Buy' rating on Latigo Biotherapeutics Inc. (no ticker mentioned), setting an unchanged price target of $73.00.

The investment bank maintained its positive stance on the biotech company, citing the potential of Latigo's lead asset, LTG-001, in treating acute pain.

Latigo Biotherapeutics has been making headlines with several notable developments. The company raised $345.6 million through an upsized initial public offering (IPO), selling 19.2 million shares at $18 each, which was at the top of the marketed range.

This move valued the company at approximately $1.3 billion.

Other analyst firms such as Jefferies and Guggenheim have also initiated coverage on the company with 'Buy' ratings, setting a price target of $50.00 each.