Goldman Sachs Upgrades Latigo Biotherapeutics to Strong-Buy Rating
Latigo Biotherapeutics (NASDAQ:LTGO) has received a significant upgrade from The Goldman Sachs Group, who have assigned the company a 'strong-buy' rating. This is not the only positive assessment of LTGO, as other analysts such as Jefferies Financial Group and Guggenheim have also initiated coverage with 'buy' ratings.
The average target price for LTGO stands at $52.25, based on data from MarketBeat.com. The company's stock has seen some volatility in the past year, trading between $17.22 and $25.93 per share.
Interestingly, insiders have been buying up shares of LTGO, with Director James B. Tananbaum purchasing 140,000 shares at an average price of $18.00 per share, resulting in a total transaction value of $2,520,000. This represents a 7.49% increase in their position.
Latigo Biotherapeutics is a clinical-stage biopharmaceutical company focused on developing non-opioid pain medicines that do not carry the risk of addiction. Its lead product candidate is LTG-001.