Evercore Upgrades Electra Therapeutics (NASDAQ:ETRA) to Strong-Buy

Electra Therapeutics (NASDAQ:ETRA) 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 research analysts have also recently issued reports on ETRA. Wall Street Zen upgraded Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. Cantor Fitzgerald began coverage on Electra Therapeutics in a research note on Tuesday. They issued an “overweight” rating on the stock. TD Cowen started coverage on shares of Electra Therapeutics in a report on Tuesday. They set a “buy” rating on the stock. Finally, Jefferies Financial Group began coverage on shares of Electra Therapeutics in a report on Tuesday. They issued a “buy” rating and a $32.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Strong Buy” and an average target price of $34.00.

Electra Therapeutics Stock Performance

Electra Therapeutics stock opened at $8.61 on Tuesday. Electra Therapeutics has a twelve month low of $8.57 and a twelve month high of $15.50.

Insider Activity at Electra Therapeutics

In other Electra Therapeutics news, Director Carl L. Gordon bought 1,333,333 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was bought at an average cost 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. This represents a 35.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc bought 1,333,333 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were 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 directly owned 5,126,891 shares of the company’s stock, valued at $76,903,365. This trade 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.