Erasca, Inc. (NASDAQ:ERAS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Erasca, Inc. (NASDAQ:ERAS) have been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.75.

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Erasca from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Guggenheim boosted their target price on shares of Erasca from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, March 16th. HC Wainwright boosted their price target on Erasca from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Wall Street Zen cut Erasca from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Piper Sandler boosted 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 Activity at Erasca

In related news, insider Ebun Garner sold 80,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $16.40, for a total transaction of $1,312,000.00. Following the completion of the sale, the insider owned 25,076 shares of the company’s stock, valued at $411,246.40. This represents a 76.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.04, for a total transaction of $300,800.00. The SEC filing for this sale provides additional information. Insiders own 14.20% of the company’s stock.

Institutional Investors Weigh In On Erasca

Several institutional investors and hedge funds have recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its position in Erasca by 11.3% during the fourth quarter. Neuberger Berman Group LLC now owns 12,358 shares of the company’s stock worth $46,000 after purchasing an additional 1,253 shares during the period. Abel Hall LLC lifted its stake in Erasca by 8.1% during the first quarter. Abel Hall LLC now owns 16,947 shares of the company’s stock worth $274,000 after purchasing an additional 1,265 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Erasca by 77.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,249 shares of the company’s stock worth $69,000 after purchasing an additional 1,859 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Erasca by 25.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,787 shares of the company’s stock worth $51,000 after purchasing an additional 2,820 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Erasca by 11.1% during the fourth quarter. ProShare Advisors LLC now owns 44,216 shares of the company’s stock worth $164,000 after purchasing an additional 4,430 shares during the last quarter. Institutional investors own 67.78% of the company’s stock.

Erasca Stock Up 5.2%

Shares of NASDAQ:ERAS opened at $12.84 on Friday. Erasca has a 12-month low of $1.12 and a 12-month high of $24.28. The stock has a market cap of $3.99 billion, a PE ratio of -13.81 and a beta of 0.68. The business has a 50 day moving average of $14.60 and a 200-day moving average of $10.21.

Erasca (NASDAQ:ERAS) last announced its earnings results on Monday, May 11th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.48). Equities research analysts expect that Erasca will post -0.55 earnings per share for the current year.

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.