Erasca, Inc. (NASDAQ:ERAS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Erasca, Inc. (NASDAQ:ERAS) have received an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $16.6250.

A number of brokerages have recently weighed in on ERAS. JPMorgan Chase & Co. lifted their price objective on Erasca from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. HC Wainwright upped their price target on Erasca from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Stifel Nicolaus set a $20.00 price target on Erasca in a research report on Tuesday, March 10th. Piper Sandler increased their price target on Erasca from $11.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Finally, Mizuho increased their price target on Erasca from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, March 13th.

Erasca Trading Up 2.0%

Shares of NASDAQ ERAS opened at $18.20 on Friday. Erasca has a twelve month low of $1.06 and a twelve month high of $19.44. The stock has a fifty day simple moving average of $14.60 and a 200-day simple moving average of $7.88. The stock has a market capitalization of $5.66 billion, a PE ratio of -41.36 and a beta of 1.04.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data on Thursday, March 19th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. On average, equities analysts predict that Erasca will post -0.73 earnings per share for the current year.

Insider Transactions at Erasca

In other Erasca news, insider Ebun Garner sold 80,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total value of $1,312,000.00. Following the sale, the insider owned 25,076 shares of the company’s stock, valued at $411,246.40. This trade represents a 76.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Morris sold 20,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $15.04, for a total value of $300,800.00. The SEC filing for this sale provides additional information. 14.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Erasca

A number of hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its position in Erasca by 16.9% in the 4th quarter. Invesco Ltd. now owns 329,795 shares of the company’s stock valued at $1,227,000 after purchasing an additional 47,770 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Erasca during the 4th quarter worth about $112,000. XTX Topco Ltd purchased a new stake in Erasca during the 4th quarter worth about $40,000. Ikarian Capital LLC purchased a new stake in Erasca during the 4th quarter worth about $2,736,000. Finally, Susquehanna Portfolio Strategies LLC lifted its holdings in Erasca by 58.4% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 59,087 shares of the company’s stock worth $220,000 after buying an additional 21,787 shares during the last quarter. Institutional investors and hedge funds 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.