Erasca (NASDAQ:ERAS) Trading Down 5.9% – Should You Sell?

Erasca, Inc. (NASDAQ:ERAS)’s stock price was down 5.9% on Tuesday . The company traded as low as $3.44 and last traded at $3.4350. Approximately 87,142 shares changed hands during trading, a decline of 94% from the average daily volume of 1,542,250 shares. The stock had previously closed at $3.65.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research report on Wednesday, October 8th. Bank of America restated an “underperform” rating and set a $1.00 target price (down previously from $4.00) on shares of Erasca in a report on Wednesday, September 3rd. Mizuho lifted their price target on shares of Erasca from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. Stifel Nicolaus set a $6.00 price objective on shares of Erasca in a report on Thursday, November 6th. Finally, Wall Street Zen upgraded shares of Erasca from a “sell” rating to a “hold” rating in a research report on Sunday, September 21st. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.13.

Erasca Stock Down 7.0%

The firm has a fifty day moving average price of $2.82 and a two-hundred day moving average price of $2.05. The stock has a market capitalization of $963.20 million, a P/E ratio of -7.54 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Sell-side analysts anticipate that Erasca, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Trading of Erasca

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in Erasca by 58.0% during the second quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock valued at $27,000 after purchasing an additional 7,923 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Erasca during the 2nd quarter valued at $29,000. Russell Investments Group Ltd. purchased a new position in shares of Erasca in the 3rd quarter worth $31,000. SG Americas Securities LLC bought a new stake in shares of Erasca in the third quarter worth $32,000. Finally, Crowley Wealth Management Inc. purchased a new stake in Erasca during the third quarter valued at $33,000. 67.78% of the stock is currently owned by institutional investors.

About Erasca

Erasca, Inc is a clinical‐stage biopharmaceutical company dedicated to the discovery and development of precision medicines for patients with cancer. The company focuses on small molecule therapeutics that target critical signaling pathways involved in tumor growth and survival, with a primary emphasis on inhibitors of the MAPK pathway. Erasca’s approach is designed to deliver oral, targeted therapies that address both oncogene‐driven and immuno‐oncology indications, aiming to improve outcomes for patients with unmet medical needs.

Erasca’s pipeline comprises multiple development candidates, including small molecule inhibitors engineered to disrupt key nodes in cancer cell signaling.