Erasca, Inc. (NASDAQ:ERAS) Stock Has Consensus Target Price of $22.09 According to Analysts

Erasca, Inc. (NASDAQ:ERAS) has been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.09.

ERAS has been the subject of a number of research analyst reports. Bank of America upped their target price on shares of Erasca from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Erasca in a report on Tuesday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Erasca in a research note on Tuesday, September 8th. Guggenheim upped their price target on Erasca from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, HSBC set a $20.00 price target on shares of Erasca in a research note on Tuesday, July 14th.

Erasca Stock Performance

Shares of ERAS stock opened at $14.72 on Friday. Erasca has a 52 week low of $2.11 and a 52 week high of $24.28. The company’s 50 day moving average price is $16.77 and its two-hundred day moving average price is $15.90. The company has a market capitalization of $5.15 billion, a P/E ratio of -15.49 and a beta of 0.61.

Erasca (NASDAQ:ERAS) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Analysts forecast that Erasca will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ERAS. Frazier Life Sciences Management L.P. increased its stake in Erasca by 1.2% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 24,975,188 shares of the company’s stock valued at $457,545,000 after buying an additional 300,000 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Erasca during the 2nd quarter worth about $387,544,000. Vivo Capital LLC boosted its stake in shares of Erasca by 31.0% during the 1st quarter. Vivo Capital LLC now owns 12,151,480 shares of the company’s stock worth $196,611,000 after buying an additional 2,878,052 shares during the last quarter. Siren L.L.C. grew its holdings in shares of Erasca by 28.4% in the 1st quarter. Siren L.L.C. now owns 11,244,246 shares of the company’s stock valued at $181,932,000 after acquiring an additional 2,486,997 shares in the last quarter. Finally, ARCH Venture Management LLC bought a new position in shares of Erasca in the 2nd quarter valued at about $129,917,324. Institutional investors and hedge funds own 67.78% of the company’s stock.

Erasca Company Profile

Erasca, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for cancers driven by abnormal signaling in the RAS/MAPK pathway. The company’s research and development activities target tumors with RAS mutations or other alterations that can promote cancer growth and resistance to treatment.

Erasca’s pipeline has included naporafenib, an investigational pan-RAF inhibitor designed to block signaling downstream of RAF proteins, as well as other targeted therapies aimed at genetically defined cancer populations.