Goldman Sachs Sticks to Buy Rating on Latigo Biotherapeutics Amid Strong Interest
Goldman Sachs has reaffirmed its 'Buy' rating on Latigo Biotherapeutics Inc. ( ) shares, maintaining its price target of $73.00. The investment bank's analysts believe there is significant upside potential in the biotechnology company's stock, given its current trading price of $22.15.
The reiteration comes from Goldman Sachs' ongoing research coverage of Latigo Biotherapeutics, which was initiated with a 'Buy' rating and a price target of $73.00 by analysts. This target is considered the high-end estimate among Wall Street coverage.
Lately, Latigo Biotherapeutics has generated interest in the investment community due to its recent 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.
The biotech firm has also received positive attention from multiple analyst firms, including Jefferies and Guggenheim, both of which initiated coverage with 'Buy' ratings and set a price target of $50.00 for Latigo Biotherapeutics shares.