Erasca, Inc. (NASDAQ:ERAS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Erasca, Inc. (NASDAQ:ERAS) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $22.0909.

ERAS has been the topic of a number of research analyst reports. Bank of America upped their price target on shares of Erasca from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. HSBC set a $20.00 price objective on shares of Erasca in a research report on Tuesday, July 14th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Erasca in a research report on Tuesday, July 14th. Guggenheim lifted their price target on shares of Erasca from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Thursday, June 11th.

Erasca Stock Performance

NASDAQ ERAS opened at $16.19 on Tuesday. The company has a market cap of $5.66 billion, a P/E ratio of -17.04 and a beta of 0.64. The business’s 50 day moving average price is $18.30 and its 200-day moving average price is $15.76. Erasca has a fifty-two week low of $1.47 and a fifty-two week high of $24.28.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). As a group, equities analysts predict that Erasca will post -0.49 EPS for the current year.

Institutional Trading of Erasca

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its position in Erasca by 58.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock valued at $27,000 after buying an additional 7,923 shares in the last quarter. Nykredit A S acquired a new stake in Erasca in the second quarter worth about $29,000. EP Wealth Advisors LLC acquired a new stake in Erasca in the second quarter worth about $29,000. Russell Investments Group Ltd. purchased a new stake in shares of Erasca during the third quarter worth about $31,000. Finally, Allworth Financial LP purchased a new stake in shares of Erasca during the second quarter worth about $34,000. 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.