Tema ETFs LLC trimmed its position in Erasca, Inc. (NASDAQ:ERAS – Free Report) by 19.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 182,438 shares of the company’s stock after selling 44,439 shares during the quarter. Tema ETFs LLC owned 0.06% of Erasca worth $3,342,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Erasca by 58.0% during the second quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after purchasing an additional 7,923 shares during the period. EP Wealth Advisors LLC bought a new position in Erasca during the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new stake in Erasca in the 3rd quarter worth approximately $31,000. EntryPoint Capital LLC bought a new stake in shares of Erasca in the 4th quarter worth approximately $38,000. Finally, Stifel Financial Corp purchased a new position in shares of Erasca during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 67.78% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. HC Wainwright raised their price target on Erasca from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus raised their target price on shares of Erasca from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Erasca in a research note on Tuesday, July 14th. Morgan Stanley increased their price target on shares of Erasca from $12.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research report on Thursday, June 11th. 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 company. According to data from MarketBeat, Erasca presently has an average rating of “Moderate Buy” and an average target price of $21.82.
Erasca Price Performance
Shares of Erasca stock opened at $18.58 on Thursday. Erasca, Inc. has a 1 year low of $1.33 and a 1 year high of $24.28. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of -19.56 and a beta of 0.66. The company has a 50-day moving average of $17.09 and a 200 day moving average of $14.95.
Erasca (NASDAQ:ERAS – Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). On average, equities analysts anticipate that Erasca, Inc. will post -0.54 EPS for the current 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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