Corient Private Wealth LP Makes New Investment in Erasca, Inc. $ERAS

Corient Private Wealth LP acquired a new position in Erasca, Inc. (NASDAQ:ERAS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 117,377 shares of the company’s stock, valued at approximately $2,150,000.

Several other institutional investors have also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its position in shares of Erasca by 594.8% during the 1st quarter. AQR Capital Management LLC now owns 396,202 shares of the company’s stock valued at $543,000 after buying an additional 339,177 shares in the last quarter. Geode Capital Management LLC increased its holdings in Erasca by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company’s stock worth $6,143,000 after acquiring an additional 77,790 shares in the last quarter. Creative Planning increased its holdings in Erasca by 423.3% in the 2nd quarter. Creative Planning now owns 244,332 shares of the company’s stock worth $310,000 after acquiring an additional 197,637 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Erasca by 39.1% in the 2nd quarter. New York State Common Retirement Fund now owns 37,360 shares of the company’s stock worth $47,000 after acquiring an additional 10,501 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Erasca by 51.6% during the 2nd quarter. Invesco Ltd. now owns 172,226 shares of the company’s stock worth $219,000 after acquiring an additional 58,643 shares during the period. Institutional investors own 67.78% of the company’s stock.

Erasca Trading Down 2.3%

NASDAQ:ERAS opened at $16.37 on Thursday. The stock has a 50-day moving average price of $18.32 and a 200 day moving average price of $15.67. The stock has a market capitalization of $5.73 billion, a P/E ratio of -17.23 and a beta of 0.64. Erasca, Inc. has a 12-month low of $1.33 and a 12-month high of $24.28.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). On average, research analysts predict that Erasca, Inc. will post -0.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. HC Wainwright lifted their price target on shares of Erasca from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. HSBC set a $20.00 price objective on shares of Erasca in a research note on Tuesday, July 14th. Wall Street Zen downgraded shares of Erasca from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Morgan Stanley lifted their target price on shares of Erasca from $12.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Erasca in a report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Erasca 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.