Erasca, Inc. (NASDAQ:ERAS) Receives $18.75 Average Price Target from Analysts

Erasca, Inc. (NASDAQ:ERAS) has been given a consensus rating of “Moderate Buy” by the ten analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $20.1111.

Several research firms have commented on ERAS. Mizuho dropped their target price on Erasca from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Bank of America upgraded Erasca from an “underperform” rating to a “neutral” rating and increased their target price for the company from $9.00 to $16.00 in a research report on Thursday. Citigroup reiterated a “buy” rating on shares of Erasca in a research report on Friday, March 13th. HC Wainwright increased their target price on Erasca from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, Stifel Nicolaus increased their target price on Erasca from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 27th.

Erasca Stock Up 0.7%

Shares of ERAS stock opened at $13.27 on Friday. Erasca has a twelve month low of $1.21 and a twelve month high of $24.28. The company has a market cap of $4.13 billion, a P/E ratio of -14.27 and a beta of 0.73. The business has a fifty day simple moving average of $14.50 and a 200 day simple moving average of $10.58.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.48). As a group, equities research analysts anticipate that Erasca will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Erasca news, insider Ebun Garner sold 80,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total value of $1,312,000.00. Following the completion of the transaction, the insider directly owned 25,076 shares in the company, valued at approximately $411,246.40. This trade represents a 76.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 14.20% of the company’s stock.

Hedge Funds Weigh In On Erasca

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in Erasca by 58.0% in the second quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock valued at $27,000 after purchasing an additional 7,923 shares during the last quarter. EP Wealth Advisors LLC bought a new position in Erasca in the second quarter valued at about $29,000. Russell Investments Group Ltd. bought a new position in Erasca in the third quarter valued at about $31,000. SG Americas Securities LLC acquired a new stake in shares of Erasca in the third quarter valued at about $32,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Erasca in the fourth quarter valued at about $38,000. 67.78% of the stock is currently owned by institutional investors.

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.