Electra Therapeutics, Inc. (NASDAQ:ETRA) Stock Now Rated "Buy" by Wall Street Analysts

Electra Therapeutics, Inc. (NASDAQ:ETRA - Get Free Report) has been given an average recommendation of "Buy" by the seven ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $33.50.

Several brokerages have weighed in on ETRA. Zacks Research upgraded Electra Therapeutics to a "hold" rating in a research report on Wednesday, October 14th. JPMorgan Chase & Co. initiated coverage on shares of Electra Therapeutics in a report on Thursday, October 22nd. They issued an "overweight" rating and a $36.00 target price on the stock. HC Wainwright assumed coverage on shares of Electra Therapeutics in a research note on Monday, October 26th. They issued a "buy" rating and a $30.00 target price on the stock. Cantor Fitzgerald started coverage on shares of Electra Therapeutics in a report on Tuesday, October 13th. They set an "overweight" rating for the company. Finally, Wall Street Zen raised shares of Electra Therapeutics to a "hold" rating in a research report on Saturday, September 26th.

Insider Transactions at Electra Therapeutics

In other news, Director Orbimed Advisors Llc acquired 1,333,333 shares of the firm's stock in a transaction on Monday, September 21st. The shares were purchased at an average price of $15.00 per share, for a total transaction 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. The trade was a 35.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl Gordon acquired 1,333,333 shares of the stock in a transaction dated Monday, September 21st. The shares were purchased at an average cost of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the purchase, the director owned 5,126,891 shares of the company's stock, valued at approximately $76,903,365. The trade was a 35.15% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 3,611,808 shares of company stock worth $47,210,004 in the last 90 days.

Electra Therapeutics Stock Performance

ETRA opened at $8.22 on Tuesday. Electra Therapeutics has a 1 year low of $6.86 and a 1 year high of $15.50.

Electra Therapeutics Company Profile

Electra Therapeutics, Inc NASDAQ: ETRA is a clinical-stage biotechnology company focused on developing antibody-based medicines for diseases driven by abnormal immune-cell activity. The company's approach is designed to selectively eliminate or modulate disease-causing immune cells while preserving healthy immune function.

Electra's lead investigational product is ELA026, an antibody targeting SIRPα, a protein involved in immune-cell signaling. The company is evaluating ELA026 in immune-mediated diseases, including systemic sclerosis and other conditions in which macrophages and related immune cells may contribute to disease progression.

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