Mizuho Issues Positive Forecast for Erasca (NASDAQ:ERAS) Stock Price

Erasca (NASDAQ:ERAS) had its price objective raised by Mizuho from $16.00 to $19.00 in a research report sent to investors on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on ERAS. Morgan Stanley set a $10.00 target price on shares of Erasca in a research note on Monday, January 26th. Piper Sandler lifted their price target on shares of Erasca from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Thursday, January 22nd. HC Wainwright upped their price objective on shares of Erasca from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday. Finally, Citigroup restated a “buy” rating on shares of Erasca in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Erasca Stock Performance

Erasca stock opened at $13.62 on Friday. The firm has a market capitalization of $4.22 billion, a PE ratio of -30.95 and a beta of 1.16. Erasca has a one year low of $1.01 and a one year high of $16.41. The stock’s 50 day moving average price is $11.25 and its 200 day moving average price is $5.56.

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

Insider Buying and Selling

In other news, insider Shannon Morris sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $15.04, for a total transaction of $300,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ebun Garner sold 120,000 shares of Erasca stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total transaction of $670,800.00. Following the completion of the sale, the general counsel owned 25,076 shares of the company’s stock, valued at approximately $140,174.84. This trade represents a 82.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Erasca

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of 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 acquired a new position in Erasca in the fourth quarter worth about $112,000. XTX Topco Ltd acquired a new position in Erasca in the fourth quarter worth about $40,000. Ikarian Capital LLC bought a new stake in Erasca in the fourth quarter valued at about $2,736,000. Finally, Susquehanna Portfolio Strategies LLC increased its holdings in Erasca by 58.4% in the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 59,087 shares of the company’s stock valued at $220,000 after buying an additional 21,787 shares during the last quarter. Institutional investors own 67.78% of the company’s stock.

Key Stories Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Piper Sandler raised its price target from $11 to $18 and moved to an “overweight” rating, signalling ~32% upside from the current price and increasing institutional buy-side interest. Article Title
• Positive Sentiment: H.C. Wainwright raised its price target from $15 to $20 and reiterated a “buy” view, implying ~47% upside and adding momentum from another sell-side upgrade. Article Title Street Insider
• Positive Sentiment: Mizuho raised its price target from $16 to $19 and maintained an “outperform” rating, another analyst signalling material upside (~39%). Article Title
• Positive Sentiment: Erasca reported quarterly EPS of ($0.10), beating the consensus of ($0.11) by $0.01 — a modest beat that removes a near-term earnings miss concern. Press Release
• Positive Sentiment: Company update: encouraging early clinical activity in ERAS-0015 dose escalation with responses across multiple RAS-mutant tumors and favorable safety/PK — this supports the therapeutic narrative and long-term upside potential. GlobeNewswire
• Neutral Sentiment: Routine preview coverage noted Erasca was projected to post quarterly earnings — background procedural reporting with limited market-moving detail. American Banking News

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.