Shares of Erasca, Inc. (NASDAQ:ERAS – Get Free Report) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $20.1111.
Several brokerages have recently commented on ERAS. Citigroup reiterated a “buy” rating on shares of Erasca in a research report on Friday, March 13th. Stifel Nicolaus increased their price objective on Erasca from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Piper Sandler increased their price objective on Erasca from $11.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Bank of America upgraded Erasca from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $9.00 to $16.00 in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their price objective on Erasca from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th.
View Our Latest Stock Report on Erasca
Insiders Place Their Bets
Institutional Investors Weigh In On Erasca
Several institutional investors have recently bought and sold shares of the stock. VR Adviser LLC boosted its holdings in Erasca by 10.1% during the 2nd quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock valued at $22,678,000 after acquiring an additional 1,640,867 shares during the period. Paradigm Biocapital Advisors LP boosted its holdings in Erasca by 4.4% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 14,159,095 shares of the company’s stock valued at $52,672,000 after acquiring an additional 599,078 shares during the period. Vanguard Group Inc. boosted its holdings in Erasca by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,811,832 shares of the company’s stock valued at $27,930,000 after acquiring an additional 116,235 shares during the period. Vivo Capital LLC boosted its holdings in Erasca by 31.0% during the 1st quarter. Vivo Capital LLC now owns 12,151,480 shares of the company’s stock valued at $196,611,000 after acquiring an additional 2,878,052 shares during the period. Finally, Siren L.L.C. boosted its holdings in Erasca by 28.4% during 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 during the period. 67.78% of the stock is currently owned by hedge funds and other institutional investors.
Erasca Stock Up 14.2%
Shares of NASDAQ ERAS opened at $18.29 on Thursday. The firm has a market capitalization of $5.69 billion, a P/E ratio of -19.67 and a beta of 0.73. The stock’s 50-day simple moving average is $13.65 and its two-hundred day simple moving average is $11.92. Erasca has a twelve month low of $1.24 and a twelve month high of $24.28.
Erasca (NASDAQ:ERAS – Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.48). As a group, research analysts anticipate that Erasca will post -0.55 EPS for the current fiscal year.
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.
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