Erasca (NASDAQ:ERAS) Announces Earnings Results

Erasca (NASDAQ:ERAS) announced its quarterly earnings data on Thursday. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02), FiscalAI reports.

Erasca Price Performance

Shares of Erasca stock opened at $15.66 on Friday. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of -15.82 and a beta of 0.68. The stock has a 50-day simple moving average of $14.96 and a 200-day simple moving average of $15.26. Erasca has a 52-week low of $2.50 and a 52-week high of $24.28.

Analyst Upgrades and Downgrades

ERAS has been the topic of several research reports. HC Wainwright upped their price objective on shares of Erasca from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Bank of America lifted their target price on shares of Erasca from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Morgan Stanley boosted their price target on shares of Erasca from $12.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Guggenheim boosted their price target on shares of Erasca from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research note on Tuesday, September 8th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Erasca Company Profile

Erasca, Inc. is a clinical-stage biotechnology company focused on developing medicines for cancer. Its research centers on the RAS/MAPK signaling pathway, which is involved in the growth of many tumors and can be difficult to target with existing therapies. The company’s pipeline includes investigational drug candidates designed to inhibit RAS proteins and other targets in the pathway. Erasca evaluates these candidates for potential use across multiple cancer types; its medicines remain in development rather than being marketed as approved treatments.