Legal & General Group Plc Acquires New Holdings in Erasca, Inc. $ERAS

Legal & General Group Plc bought a new stake in Erasca, Inc. (NASDAQ:ERAS) during the second quarter, Holdings Channel.com reports. The institutional investor bought 148,195 shares of the company’s stock, valued at approximately $2,715,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Erasca during the second quarter valued at about $387,544,000. Spruce Street Capital LP acquired a new position in shares of Erasca in the 4th quarter worth approximately $14,469,000. Janus Henderson Group PLC purchased a new position in shares of Erasca during the 1st quarter worth approximately $59,988,000. Commodore Capital LP acquired a new stake in Erasca in the 1st quarter valued at approximately $51,372,000. Finally, Vivo Capital LLC increased its holdings in Erasca by 31.0% in the 1st quarter. Vivo Capital LLC now owns 12,151,480 shares of the company’s stock valued at $196,611,000 after purchasing an additional 2,878,052 shares during the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Erasca Stock Down 0.4%

Shares of ERAS stock opened at $16.19 on Friday. Erasca, Inc. has a 52 week low of $1.47 and a 52 week high of $24.28. The stock has a market capitalization of $5.66 billion, a PE ratio of -17.04 and a beta of 0.64. The firm has a 50 day moving average of $18.35 and a two-hundred day moving average of $15.70.

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

Analysts Set New Price Targets

A number of analysts have issued reports on ERAS shares. Jefferies Financial Group reissued a “buy” rating on shares of Erasca in a research report on Tuesday, July 14th. Wall Street Zen cut Erasca from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. HSBC set a $20.00 price objective on Erasca in a report on Tuesday, July 14th. Guggenheim increased their target price on Erasca from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research report on Thursday, June 11th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently 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.