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

Shares of Erasca, Inc. (NASDAQ:ERAS) have received a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $21.6364.

Several brokerages have recently issued reports on ERAS. HC Wainwright restated a “buy” rating on shares of Erasca in a research report on Tuesday, July 14th. HSBC set a $20.00 price target on Erasca in a research report on Tuesday, July 14th. Stifel Nicolaus boosted their price objective on Erasca from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Bank of America upped their price objective on Erasca from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen lowered Erasca from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th.

Key Stories Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Neutral Sentiment: Several firms, including Rosen, Kaplan Fox, Faruqi & Faruqi, and others, reiterated the upcoming lead-plaintiff deadline in the Erasca class-action case, keeping investor attention focused on the lawsuit and potential damages. Article
• Neutral Sentiment: Bronstein, Gewirtz & Grossman, Pomerantz, Glancy Prongay, Schall, and other firms also publicized the pending securities-fraud action, underscoring that the litigation remains active and could weigh on sentiment. Article
• Negative Sentiment: The lawsuit alleges Erasca and certain executives misled investors about the competitive position, safety profile, and intellectual-property protection of its lead oncology candidate, ERAS-0015, which could increase legal risk and pressure the stock. Article

Erasca Stock Performance

ERAS opened at $19.11 on Monday. The company’s 50 day moving average is $15.44 and its 200 day moving average is $13.99. The company has a market cap of $5.94 billion, a price-to-earnings ratio of -20.55 and a beta of 0.66. Erasca has a 12-month low of $1.33 and a 12-month high of $24.28.

Erasca (NASDAQ:ERAS) last released its earnings results on Monday, May 11th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.48). As a group, analysts predict that Erasca will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Erasca

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Erasca by 58.0% in 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 in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Erasca during the second quarter valued at about $29,000. Russell Investments Group Ltd. bought a new stake in shares of Erasca in the 3rd quarter valued at about $31,000. EntryPoint Capital LLC bought a new stake in shares of Erasca in the 4th quarter valued at about $38,000. Finally, Stifel Financial Corp purchased a new position in shares of Erasca in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors 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.