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

Shares of Erasca, Inc. (NASDAQ:ERAS) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $21.9091.

Several research firms have recently issued reports on ERAS. Bank of America lifted their target price on shares of Erasca from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Wolfe Research set a $16.00 price objective on Erasca in a research report on Thursday, June 4th. HSBC set a $20.00 price objective on Erasca in a research note on Tuesday, July 14th. Morgan Stanley boosted their target price on Erasca from $12.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Erasca in a report on Tuesday, July 14th.

Erasca Stock Down 3.9%

Shares of ERAS stock opened at $17.86 on Friday. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of -18.80 and a beta of 0.66. The stock has a fifty day moving average of $17.18 and a 200 day moving average of $15.00. Erasca has a 52 week low of $1.33 and a 52 week high of $24.28.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Equities research analysts anticipate that Erasca will post -0.54 earnings per share for the current year.

Institutional Trading of Erasca

A number of institutional investors have recently made changes to their positions in ERAS. BNP Paribas Financial Markets grew its stake in shares of Erasca by 58.0% in the second quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after acquiring an additional 7,923 shares during the period. EP Wealth Advisors LLC bought a new position in Erasca during the second quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new stake in Erasca in the third quarter worth approximately $31,000. Allworth Financial LP bought a new stake in Erasca in the 2nd quarter worth approximately $34,000. Finally, EntryPoint Capital LLC bought a new stake in Erasca in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 67.78% of the company’s stock.

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.