Erasca, Inc. (NASDAQ:ERAS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Erasca, Inc. (NASDAQ:ERAS) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $16.6250.

A number of equities research analysts have commented on the company. Mizuho increased their price target on Erasca from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. increased their price target on Erasca from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Morgan Stanley set a $10.00 price target on Erasca in a research note on Monday, January 26th. Stifel Nicolaus set a $20.00 price target on Erasca in a research note on Tuesday, March 10th. Finally, Piper Sandler increased their price target on Erasca from $11.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, March 13th.

Insider Transactions at Erasca

In other Erasca news, insider Ebun Garner sold 80,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total value of $1,312,000.00. Following the completion of the sale, the insider directly owned 25,076 shares in the company, valued at approximately $411,246.40. This trade represents a 76.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Morris sold 20,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $15.04, for a total value of $300,800.00. The SEC filing for this sale provides additional information. Company insiders own 14.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ERAS. Spruce Street Capital LP purchased a new position in shares of Erasca in the fourth quarter worth about $14,469,000. Vivo Capital LLC raised its stake in shares of Erasca by 37.2% in the third quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock worth $20,216,000 after purchasing an additional 2,516,672 shares during the last quarter. State Street Corp raised its stake in shares of Erasca by 53.2% in the fourth quarter. State Street Corp now owns 6,174,642 shares of the company’s stock worth $22,970,000 after purchasing an additional 2,145,386 shares during the last quarter. Paradigm Biocapital Advisors LP raised its stake in shares of Erasca by 13.9% in the third quarter. Paradigm Biocapital Advisors LP now owns 13,560,017 shares of the company’s stock worth $29,561,000 after purchasing an additional 1,652,835 shares during the last quarter. Finally, VR Adviser LLC raised its stake in shares of Erasca by 10.1% in the second quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock worth $22,678,000 after purchasing an additional 1,640,867 shares during the last quarter. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

Erasca Price Performance

Shares of NASDAQ ERAS opened at $19.01 on Friday. The stock has a market capitalization of $5.91 billion, a P/E ratio of -43.20 and a beta of 1.04. Erasca has a 1-year low of $1.06 and a 1-year high of $19.78. The business has a fifty day moving average price of $14.86 and a 200 day moving average price of $8.07.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data 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, equities research analysts anticipate that Erasca will post -0.73 earnings per share for the current fiscal year.

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.