Erasca, Inc. (NASDAQ:ERAS – Get Free Report)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $17.63, but opened at $18.41. Erasca shares last traded at $17.1180, with a volume of 245,659 shares changing hands.
Wall Street Analyst Weigh In
Several research firms have issued reports on ERAS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a research report on Thursday, June 11th. Mizuho dropped their price objective on Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen cut Erasca from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright boosted their target price on shares of Erasca from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Bank of America upped their price target 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. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.09.
View Our Latest Report on ERAS
Erasca Stock Performance
Erasca (NASDAQ:ERAS – Get Free Report) last posted its 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). As a group, equities analysts anticipate that Erasca, Inc. will post -0.48 earnings per share for the current year.
Institutional Trading of Erasca
Large investors have recently modified their holdings of the business. Nykredit A S acquired a new position in shares of Erasca during the 2nd quarter worth approximately $29,000. Allworth Financial LP acquired a new stake in Erasca during the 2nd quarter valued at $34,000. EverSource Wealth Advisors LLC increased its position in Erasca by 77.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,249 shares of the company’s stock worth $69,000 after buying an additional 1,859 shares in the last quarter. KBC Group NV purchased a new position in Erasca during the first quarter worth $81,000. Finally, Quantbot Technologies LP acquired a new position in shares of Erasca in the second quarter worth $106,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.
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.
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