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

Shares of Electra Therapeutics, Inc. (NASDAQ:ETRA) have earned an average rating of “Buy” from the seven research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $33.50.

ETRA has been the topic of several research analyst reports. HC Wainwright began coverage on shares of Electra Therapeutics in a research report on Monday, October 26th. They set a “buy” rating and a $30.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Electra Therapeutics in a report on Thursday, October 22nd. They issued an “overweight” rating and a $36.00 price objective for the company. Zacks Research upgraded shares of Electra Therapeutics to a “hold” rating in a report on Wednesday, October 14th. Cantor Fitzgerald began coverage on Electra Therapeutics in a research report on Tuesday, October 13th. They set an “overweight” rating on the stock. Finally, Jefferies Financial Group started coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating and a $32.00 target price on the stock.

Insider Activity

In related news, Director Orbimed Advisors Llc purchased 156,091 shares of the company’s stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $7.31 per share, with a total value of $1,141,025.21. Following the transaction, the director directly owned 5,220,762 shares in the company, valued at $38,163,770.22. This trade represents a 3.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl Gordon acquired 156,091 shares of the stock in a transaction on Thursday, November 5th. The shares were bought at an average price of $7.31 per share, with a total value of $1,141,025.21. Following the purchase, the director directly owned 5,220,762 shares of the company’s stock, valued at $38,163,770.22. The trade was a 3.08% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 3,611,808 shares of company stock worth $47,210,004 in the last three months.

Electra Therapeutics Trading Up 5.4%

NASDAQ:ETRA opened at $8.22 on Tuesday. Electra Therapeutics has a 12 month low of $6.86 and a 12 month 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 SIRP?, 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.