Commodore Capital LP Takes Position in Erasca, Inc. $ERAS

Commodore Capital LP bought a new position in Erasca, Inc. (NASDAQ:ERAS) in the first quarter, Holdings Channel reports. The firm bought 3,175,000 shares of the company’s stock, valued at approximately $51,372,000. Erasca makes up about 3.0% of Commodore Capital LP’s investment portfolio, making the stock its 14th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Spruce Street Capital LP bought a new stake in Erasca in the 4th quarter valued at about $14,469,000. Vivo Capital LLC raised its position 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 valued at $20,216,000 after purchasing an additional 2,516,672 shares during the period. Siren L.L.C. lifted its stake in shares of Erasca by 28.4% during the 1st quarter. Siren L.L.C. now owns 11,244,246 shares of the company’s stock valued at $181,932,000 after buying an additional 2,486,997 shares in the last quarter. State Street Corp grew its stake in Erasca by 53.2% in the 4th quarter. State Street Corp now owns 6,174,642 shares of the company’s stock valued at $22,970,000 after buying an additional 2,145,386 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP raised its holdings in Erasca by 13.9% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 13,560,017 shares of the company’s stock valued at $29,561,000 after acquiring an additional 1,652,835 shares during the period. Institutional investors own 67.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ERAS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Thursday, June 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Erasca in a research report on Tuesday, July 14th. Wolfe Research set a $16.00 price objective on shares of Erasca in a research note on Thursday, June 4th. Morgan Stanley upped their price objective on shares of Erasca from $12.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Finally, Wall Street Zen cut Erasca from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Erasca has a consensus rating of “Moderate Buy” and a consensus target price of $21.64.

Erasca Price Performance

ERAS opened at $19.11 on Monday. The company has a 50 day simple moving average of $15.44 and a two-hundred day simple moving average of $13.99. The firm has a market cap of $5.94 billion, a P/E ratio of -20.55 and a beta of 0.66. Erasca, Inc. has a 1-year low of $1.33 and a 1-year high of $24.28.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.48). Equities analysts anticipate that Erasca, Inc. will post -0.54 earnings per share for the current year.

Key Stories Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Neutral Sentiment: Several firms, including Rosen, Kaplan Fox, Faruqi & Faruqi, and others, reiterated the upcoming lead-plaintiff deadline in the Erasca class-action case, keeping investor attention focused on the lawsuit and potential damages. Article
• Neutral Sentiment: Bronstein, Gewirtz & Grossman, Pomerantz, Glancy Prongay, Schall, and other firms also publicized the pending securities-fraud action, underscoring that the litigation remains active and could weigh on sentiment. Article
• Negative Sentiment: The lawsuit alleges Erasca and certain executives misled investors about the competitive position, safety profile, and intellectual-property protection of its lead oncology candidate, ERAS-0015, which could increase legal risk and pressure the stock. Article

Erasca 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.