Erasca (NASDAQ:ERAS) Price Target Raised to $22.00

Erasca (NASDAQ:ERAS) had its price target increased by HC Wainwright from $18.00 to $22.00 in a report issued on Wednesday, Marketbeat reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Erasca’s Q3 2026 earnings at ($0.14) EPS, Q4 2026 earnings at ($0.15) EPS, FY2026 earnings at ($0.51) EPS, FY2027 earnings at ($0.58) EPS, FY2028 earnings at ($0.61) EPS, FY2029 earnings at ($0.70) EPS and FY2030 earnings at ($0.54) EPS.

ERAS has been the topic of several other reports. Wall Street Zen lowered shares of Erasca from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Wolfe Research set a $16.00 target price on shares of Erasca in a research note on Thursday, June 4th. Mizuho reduced their price target on Erasca from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Morgan Stanley boosted their price target on Erasca from $12.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Erasca in a research note on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

Erasca Stock Performance

Shares of NASDAQ ERAS opened at $18.38 on Wednesday. Erasca has a 52-week low of $1.33 and a 52-week high of $24.28. The stock has a market cap of $6.43 billion, a P/E ratio of -19.35 and a beta of 0.66. The firm has a 50 day moving average price of $17.31 and a 200 day moving average price of $15.02.

Erasca (NASDAQ:ERAS) last issued its earnings results on Wednesday, August 12th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Analysts predict that Erasca will post -0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Erasca

Large investors have recently added to or reduced their stakes in the business. Jupiter Topco LLC bought a new position in shares of Erasca during the 2nd quarter valued at about $1,404,000. ARCH Venture Management LLC bought a new position in Erasca in the 2nd quarter worth $129,917,324,000. Parkman Healthcare Partners LLC purchased a new position in Erasca during the 2nd quarter valued at about $4,739,000. Legal & General Group Plc purchased a new position in shares of Erasca in the 2nd quarter worth about $2,715,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Erasca during the second quarter valued at approximately $6,369,000. Institutional investors own 67.78% of the company’s stock.

Key Erasca News

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: HC Wainwright maintained its Buy rating and $22 price target, implying additional upside from the stock’s recent trading level. The target supports the bullish view that Erasca’s development pipeline could drive further appreciation. HC Wainwright Increases Erasca Price Target to $22.00
• Neutral Sentiment: Bank of America raised its price target from $18 to $20 but retained a Neutral rating. The higher target is supportive, but the unchanged rating indicates the bank views the shares as fairly valued relative to near-term risks. Bank of America Raises Erasca Price Target
• Negative Sentiment: HC Wainwright lowered its EPS forecasts across 2026 through 2030, including estimates of losses of $0.51 per share for 2026, $0.58 for 2027, $0.61 for 2028, $0.70 for 2029 and $0.54 for 2030. It also reduced its third- and fourth-quarter 2026 loss estimates to $0.14 and $0.15 per share, respectively. The revisions suggest expectations for profitability remain distant, despite the firm’s Buy rating and $22 target. HC Wainwright Erasca Earnings Estimate Revisions

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.