Erasca, Inc. (NASDAQ:ERAS) Receives Consensus Rating of “Hold” from Brokerages

Erasca, Inc. (NASDAQ:ERAS) has been given a consensus rating of “Hold” by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.75.

A number of research analysts have recently commented on ERAS shares. Bank of America reissued an “underperform” rating and issued a $1.00 price objective (down previously from $4.00) on shares of Erasca in a research report on Wednesday, September 3rd. Stifel Nicolaus started coverage on shares of Erasca in a research report on Wednesday. They issued a “buy” rating and a $4.00 price objective for the company. Wall Street Zen raised shares of Erasca from a “sell” rating to a “hold” rating in a research report on Sunday, September 21st. Morgan Stanley reissued an “equal weight” rating and issued a $2.00 price objective (down previously from $4.00) on shares of Erasca in a research report on Monday, August 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a report on Wednesday, October 8th.

Erasca Trading Down 4.3%

Erasca stock opened at $2.42 on Friday. The company has a market cap of $686.48 million, a P/E ratio of -5.38 and a beta of 1.18. Erasca has a 1-year low of $1.01 and a 1-year high of $3.31. The company has a fifty day simple moving average of $1.85 and a 200 day simple moving average of $1.54.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). On average, equities research analysts forecast that Erasca will post -0.73 EPS for the current year.

Institutional Trading of Erasca

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in shares of Erasca by 13.6% during the 2nd quarter. Captrust Financial Advisors now owns 54,111 shares of the company’s stock worth $69,000 after buying an additional 6,486 shares during the period. Frazier Life Sciences Management L.P. boosted its holdings in shares of Erasca by 0.7% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 22,729,436 shares of the company’s stock worth $28,866,000 after buying an additional 153,585 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Erasca during the 2nd quarter worth about $29,000. BNP Paribas Financial Markets boosted its holdings in shares of 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. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Erasca during the 2nd quarter worth about $156,000. Institutional investors own 67.78% of the company’s stock.

Erasca Company Profile

Erasca, Inc, a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company’s lead product is naporafenib which is in phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.