Electra Therapeutics (NASDAQ:ETRA) Coverage Initiated by Analysts at HC Wainwright

Analysts at HC Wainwright initiated coverage on shares of Electra Therapeutics (NASDAQ:ETRA) in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. HC Wainwright‘s target price would suggest a potential upside of 244.43% from the stock’s previous close.

Several other research analysts have also recently commented on the company. Zacks Research upgraded Electra Therapeutics to a “hold” rating in a research note on Wednesday, October 14th. Jefferies Financial Group began coverage on Electra Therapeutics in a report on Tuesday, October 13th. They issued a “buy” rating and a $32.00 price target for the company. Wall Street Zen upgraded Electra Therapeutics to a “hold” rating in a research note on Saturday, September 26th. Evercore initiated coverage on Electra Therapeutics in a research note on Tuesday, October 13th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, TD Cowen assumed coverage on Electra Therapeutics in a report on Tuesday, October 13th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Electra Therapeutics presently has a consensus rating of “Buy” and an average target price of $33.50.

Electra Therapeutics Stock Performance

Shares of Electra Therapeutics stock opened at $8.71 on Monday. Electra Therapeutics has a 1-year low of $8.50 and a 1-year high of $15.50.

Insider Activity

In other news, Director Orbimed Advisors Llc purchased 1,333,333 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was acquired at an average cost 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl L. Gordon acquired 1,333,333 shares of the stock in a transaction that occurred 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 acquisition, 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 disclosure for this purchase is available in the SEC filing.

About Electra Therapeutics

Electra Therapeutics, Inc (NASDAQ: ETRA) is a clinical-stage biopharmaceutical company focused on developing therapies that modulate the immune system. The company’s research is directed toward selectively influencing immune-cell activity to address serious diseases, including cancer and autoimmune conditions.

Electra Therapeutics is advancing a pipeline of investigational medicines based on its immune-cell modulation approach. Its programs are intended to improve the body’s ability to recognize, control, or eliminate disease-associated cells while limiting effects on healthy tissue.