Electra Therapeutics, Inc. (NASDAQ:ETRA) Stock Has Average Target Price of $33.50

Shares of Electra Therapeutics, Inc. (NASDAQ:ETRA) have earned a consensus rating of “Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation 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.

A number of research analysts have recently commented on the company. Wall Street Zen raised Electra Therapeutics to a “hold” rating in a research report on Saturday, September 26th. TD Cowen started coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They set a “buy” rating for the company. HC Wainwright assumed coverage on Electra Therapeutics in a report on Monday, October 26th. They issued a “buy” rating and a $30.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Electra Therapeutics in a research note on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating and a $32.00 target price on the stock.

Electra Therapeutics Price Performance

Shares of NASDAQ ETRA traded down $0.27 during mid-day trading on Tuesday, reaching $8.84. 313,150 shares of the company’s stock were exchanged, compared to its average volume of 375,172. The stock has a 50-day moving average price of $9.57. Electra Therapeutics has a 52 week low of $6.86 and a 52 week high of $15.50.

Electra Therapeutics (NASDAQ:ETRA) last posted its quarterly earnings results on Thursday, November 12th. The company reported ($3.47) earnings per share for the quarter, missing the consensus estimate of ($1.76) by ($1.71). Research analysts expect that Electra Therapeutics will post -3.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Orbimed Advisors Llc purchased 1,333,333 shares of Electra Therapeutics stock in a transaction dated 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 in the company, 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 Carl Gordon acquired 1,333,333 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were bought at an average price of $15.00 per share, for a total transaction of $19,999,995.00. Following the completion of the purchase, the director owned 5,126,891 shares in the company, valued at $76,903,365. This trade represents a 35.15% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 3,796,040 shares of company stock valued at $48,699,065 over the last ninety days.

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.