29,879 Shares in Erasca, Inc. $ERAS Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc acquired a new stake in Erasca, Inc. (NASDAQ:ERAS) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 29,879 shares of the company’s stock, valued at approximately $483,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in Erasca by 58.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after buying an additional 7,923 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Erasca during the 2nd quarter valued at approximately $29,000. Russell Investments Group Ltd. bought a new position in Erasca during the third quarter worth $31,000. EntryPoint Capital LLC acquired a new position in Erasca in the fourth quarter worth $38,000. Finally, Stifel Financial Corp acquired a new position in Erasca in the fourth quarter worth $38,000. Institutional investors and hedge funds own 67.78% of the company’s stock.

More Erasca News

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Erasca said its updated preliminary Phase 1 data for ERAS-0015, its pan-RAS molecular glue for KRAS-mutant cancers, support plans to move toward registration-enabling development, reinforcing the view that the drug could be a potentially best-in-class oncology asset. Article Title
• Positive Sentiment: The company also closed an upsized public offering, raising about $632.5 million in gross proceeds, which significantly strengthens its balance sheet and should help fund ongoing oncology development. Article Title
• Neutral Sentiment: One market note said the stock surged on encouraging cancer trial results, and another questioned whether the valuation has already run ahead of the fundamentals, suggesting investors are still debating how much upside the data justifies. Article Title
• Negative Sentiment: At the same time, multiple law firms issued class-action and deadline alerts over allegations that Erasca misled investors about ERAS-0015’s competitive position, safety profile, patent risk, and preclinical comparisons, keeping legal overhang front and center. Article Title
• Negative Sentiment: Those lawsuit updates likely add pressure because they reinforce concerns tied to the earlier patent-infringement dispute and a reported patient death after treatment with ERAS-0015, which had already triggered a sharp selloff earlier in the week. Article Title

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ERAS. Weiss Ratings reissued a “sell (d-)” rating on shares of Erasca in a report on Thursday, June 11th. Stifel Nicolaus lifted their price target on shares of Erasca from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, April 27th. Bank of America boosted their price objective on shares of Erasca from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday. HSBC set a $20.00 target price on shares of Erasca in a report on Tuesday. Finally, HC Wainwright restated a “buy” rating on shares of Erasca in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Erasca has a consensus rating of “Moderate Buy” and an average target price of $20.64.

Erasca Stock Performance

Shares of ERAS opened at $19.02 on Friday. Erasca, Inc. has a 1 year low of $1.33 and a 1 year high of $24.28. The company has a market cap of $5.91 billion, a price-to-earnings ratio of -20.45 and a beta of 0.66. The firm has a fifty day moving average of $14.37 and a 200-day moving average of $13.33.

Erasca (NASDAQ:ERAS) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.48). Analysts predict that Erasca, Inc. will post -0.55 EPS for the current year.

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.