Electra Therapeutics (NASDAQ:ETRA) Stock Moved Up to "Strong-Buy" by Evercore

Key Points

• Evercore upgraded Electra Therapeutics to “strong buy,” joining other bullish analysts. The company has a consensus “Strong Buy” rating and an average price target of $34.
• Electra shares opened at $8.61, down 7.6%, and close to their one-year low of $8.57 versus a high of $15.50.
• Company directors Orbimed Advisors and Carl L. Gordon each acquired 1.33 million shares at $15 per share, increasing their individual positions by 35.15%.

Electra Therapeutics (NASDAQ:ETRA - Get Free Report) was upgraded by stock analysts at Evercore to a "strong-buy" rating in a research report issued on Tuesday, Zacks reports.

A number of other analysts have also weighed in on the company. Cantor Fitzgerald started coverage on Electra Therapeutics in a research note on Tuesday. They set an "overweight" rating for the company. TD Cowen assumed coverage on shares of Electra Therapeutics in a research note on Tuesday. They issued a "buy" rating on the stock. Wall Street Zen raised shares of Electra Therapeutics to a "hold" rating in a research note on Saturday, September 26th. Finally, Jefferies Financial Group assumed coverage on shares of Electra Therapeutics in a report on Tuesday. They set a "buy" rating and a $32.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, Electra Therapeutics has a consensus rating of "Strong Buy" and an average target price of $34.00.

Electra Therapeutics Stock Down 7.6%

Shares of Electra Therapeutics stock opened at $8.61 on Tuesday. Electra Therapeutics has a one year low of $8.57 and a one year high of $15.50.

Insiders Place Their Bets

In other news, Director Orbimed Advisors Llc acquired 1,333,333 shares of the stock in a transaction on Monday, September 21st. The stock was acquired at an average price of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the transaction, the director owned 5,126,891 shares of the company's stock, valued at $76,903,365. This represents a 35.15% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Carl L. Gordon bought 1,333,333 shares of the company's stock in a transaction dated 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 acquisition, the director owned 5,126,891 shares in the company, valued at approximately $76,903,365. This represents a 35.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

About Electra Therapeutics

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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