Erasca (NASDAQ:ERAS) Stock Price Expected to Rise, HC Wainwright Analyst Says

Erasca (NASDAQ:ERAS) had its price target lifted by analysts at HC Wainwright from $18.00 to $22.00 in a note issued to investors on Wednesday, Marketbeat reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 20.15% from the stock’s previous close.

ERAS has been the topic of several other research reports. Bank of America increased their target price on Erasca from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Mizuho cut their price target on shares of Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Jefferies Financial Group restated a “buy” rating on shares of Erasca in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research note on Thursday, June 11th. Finally, Wall Street Zen lowered shares of Erasca from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Erasca currently has an average rating of “Moderate Buy” and an average price target of $21.82.

Erasca Stock Performance

Shares of Erasca stock opened at $18.31 on Wednesday. The firm has a fifty day moving average of $16.98 and a two-hundred day moving average of $14.89. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of -19.69 and a beta of 0.66. Erasca has a 52 week low of $1.33 and a 52 week high of $24.28.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). As a group, research analysts forecast that Erasca will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Erasca

Institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Erasca during the 2nd quarter worth approximately $387,544,000. VR Adviser LLC raised 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 worth $22,678,000 after buying an additional 1,640,867 shares during the period. Paradigm Biocapital Advisors LP lifted its stake in Erasca by 4.4% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 14,159,095 shares of the company’s stock valued at $52,672,000 after buying an additional 599,078 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Erasca by 0.9% in the third quarter. Vanguard Group Inc. now owns 12,811,832 shares of the company’s stock valued at $27,930,000 after buying an additional 116,235 shares during the period. Finally, Vivo Capital LLC boosted its holdings in shares of Erasca by 31.0% in the first quarter. Vivo Capital LLC now owns 12,151,480 shares of the company’s stock valued at $196,611,000 after buying an additional 2,878,052 shares during the period. Institutional investors own 67.78% of the company’s stock.

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.