Erasca (NASDAQ:ERAS) Given New $25.00 Price Target at JPMorgan Chase & Co.

Erasca (NASDAQ:ERAS) had its target price upped by JPMorgan Chase & Co. from $24.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 85.67% from the stock’s current price.

A number of other research firms also recently commented on ERAS. Mizuho boosted their price objective on Erasca from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Citigroup reaffirmed a “buy” rating on shares of Erasca in a research note on Friday, March 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a report on Thursday, January 22nd. Piper Sandler boosted their price target on shares of Erasca from $11.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Finally, Stifel Nicolaus set a $20.00 price target on shares of Erasca in a report on Tuesday, March 10th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.10.

Erasca Price Performance

Shares of NASDAQ ERAS traded up $0.11 during mid-day trading on Wednesday, reaching $13.47. 989,534 shares of the company traded hands, compared to its average volume of 6,435,250. Erasca has a fifty-two week low of $1.01 and a fifty-two week high of $16.41. The firm has a market cap of $4.18 billion, a PE ratio of -30.59 and a beta of 1.16. The stock has a fifty day simple moving average of $11.65 and a 200-day simple moving average of $5.78.

Erasca (NASDAQ:ERAS) last released its earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. As a group, analysts predict that Erasca will post -0.73 EPS for the current fiscal year.

Insider Activity at Erasca

In other Erasca news, General Counsel Ebun Garner sold 120,000 shares of Erasca stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $5.59, for a total transaction of $670,800.00. Following the transaction, the general counsel directly owned 25,076 shares in the company, valued at approximately $140,174.84. The trade was a 82.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shannon Morris sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $15.04, for a total transaction of $300,800.00. The disclosure for this sale is available in the SEC filing. Insiders own 14.40% of the company’s stock.

Institutional Investors Weigh In On Erasca

Hedge funds have recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new stake in Erasca during the 4th quarter worth about $38,000. Stifel Financial Corp acquired a new position in shares of Erasca in the 4th quarter valued at about $38,000. XTX Topco Ltd acquired a new position in shares of Erasca in the 4th quarter valued at about $40,000. Mariner LLC purchased a new stake in shares of Erasca in the fourth quarter worth approximately $40,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Erasca in the fourth quarter worth approximately $43,000. 67.78% of the stock is owned by hedge funds and other institutional investors.

Erasca Company Profile

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.