Erasca, Inc. (NASDAQ:ERAS) Receives $21.91 Average PT from Analysts

Shares of Erasca, Inc. (NASDAQ:ERAS) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $22.0909.

Several brokerages have recently commented on ERAS. Jefferies Financial Group reaffirmed a “buy” rating on shares of Erasca in a research report on Tuesday, July 14th. Mizuho dropped their target price on shares of Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Guggenheim increased their target price on shares of Erasca from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Morgan Stanley raised their price target 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 downgraded shares of Erasca from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th.

Institutional Trading of Erasca

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in Erasca by 58.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after buying an additional 7,923 shares during the period. EP Wealth Advisors LLC bought a new position in Erasca in the second quarter worth approximately $29,000. Russell Investments Group Ltd. acquired a new stake in Erasca in the third quarter valued at approximately $31,000. Allworth Financial LP acquired a new stake in Erasca in the second quarter valued at approximately $34,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Erasca during the fourth quarter valued at approximately $38,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Erasca Price Performance

NASDAQ ERAS opened at $17.08 on Friday. The business has a 50 day simple moving average of $17.67 and a 200 day simple moving average of $15.27. Erasca has a one year low of $1.33 and a one year high of $24.28. The stock has a market capitalization of $5.97 billion, a P/E ratio of -17.98 and a beta of 0.66.

Erasca (NASDAQ:ERAS) last issued its earnings results on Wednesday, August 12th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Equities analysts expect that Erasca will post -0.48 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.