Electra Therapeutics (NASDAQ:ETRA – Get Free Report) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks reports.
Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald initiated coverage on shares of Electra Therapeutics in a research note on Tuesday. They set an “overweight” rating for the company. TD Cowen started coverage on shares of Electra Therapeutics in a research report on Tuesday. They set a “buy” rating on the stock. Evercore assumed coverage on shares of Electra Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, Wall Street Zen raised shares of Electra Therapeutics to a “hold” rating in a report on Saturday, September 26th. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, Electra Therapeutics presently has an average rating of “Strong Buy” and a consensus price target of $34.00.
Read Our Latest Research Report on ETRA
Electra Therapeutics Trading Down 7.6%
Insider Activity
In other Electra Therapeutics news, Director Carl L. Gordon acquired 1,333,333 shares of the stock in a transaction on Monday, September 21st. The shares were bought at an average price of $15.00 per share, with a total value of $19,999,995.00. Following the acquisition, the director owned 5,126,891 shares of the company’s stock, valued at $76,903,365. This trade represents a 35.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Orbimed Advisors Llc bought 1,333,333 shares of the company’s stock in a transaction on Monday, September 21st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $19,999,995.00. Following the transaction, the director directly owned 5,126,891 shares in the company, valued at $76,903,365. This trade represents a 35.15% increase in their position. The disclosure for this purchase is available in the SEC filing.
Electra Therapeutics Company Profile
Electra Therapeutics, Inc is a clinical-stage biopharmaceutical company developing therapies for severe immune-mediated diseases. The company is focused on creating treatments designed to selectively remove disease-causing immune cells while preserving healthy immune cells.
Electra’s lead product candidate, ELA026, is an investigational antibody being developed for conditions involving harmful immune-cell activity. The company is evaluating the candidate in clinical studies for diseases including systemic sclerosis and immune thrombocytopenia.
Electra Therapeutics is headquartered in the United States and is focused primarily on advancing its pipeline through clinical development.
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