Electra Therapeutics (NASDAQ:ETRA) Stock Bumped Up to “Strong-Buy” by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Electra Therapeutics (NASDAQ:ETRA) to a strong-buy rating in a report released on Tuesday,Zacks reports.

Other analysts have also issued research reports about the company. Evercore began coverage on Electra Therapeutics in a report on Tuesday. They set an “outperform” rating and a $36.00 target price on the stock. Wall Street Zen raised Electra Therapeutics to a “hold” rating in a report on Saturday, September 26th. TD Cowen started coverage on shares of Electra Therapeutics in a research note on Tuesday. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Electra Therapeutics in a report on Tuesday. They set an “overweight” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, Electra Therapeutics currently has a consensus rating of “Strong Buy” and a consensus target price of $34.00.

Electra Therapeutics Trading Down 7.6%

Shares of ETRA opened at $8.61 on Tuesday. Electra Therapeutics has a 12 month low of $8.57 and a 12 month high of $15.50.

Insiders Place Their Bets

In related news, Director Carl L. Gordon acquired 1,333,333 shares of Electra Therapeutics stock in a transaction on Monday, September 21st. The stock was purchased at an average cost of $15.00 per share, with a total value of $19,999,995.00. Following the completion of 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc acquired 1,333,333 shares of Electra Therapeutics stock in a transaction on Monday, September 21st. The shares were bought at an average cost 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 approximately $76,903,365. This trade represents a 35.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

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.