Erasca, Inc. (NASDAQ:ERAS) Receives Average Rating of “Moderate Buy” from Brokerages

Erasca, Inc. (NASDAQ:ERAS) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $9.2222.

A number of analysts have recently commented on the company. Mizuho initiated coverage on Erasca in a research report on Tuesday, January 27th. They issued an “outperform” rating and a $16.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a research note on Thursday, January 22nd. Piper Sandler increased their target price on Erasca from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. HC Wainwright lifted their price target on Erasca from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Stifel Nicolaus set a $10.00 price target on shares of Erasca in a research note on Monday, January 12th.

Insider Activity

In other news, General Counsel Ebun Garner sold 120,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $5.59, for a total transaction of $670,800.00. Following the sale, the general counsel owned 25,076 shares in the company, valued at $140,174.84. This represents a 82.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 14.40% of the company’s stock.

Institutional Trading of Erasca

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in shares of Erasca by 58.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after purchasing an additional 7,923 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Erasca during the second quarter valued at $29,000. Russell Investments Group Ltd. bought a new stake in Erasca in the 3rd quarter worth about $31,000. SG Americas Securities LLC purchased a new position in Erasca in the 3rd quarter worth about $32,000. Finally, Crowley Wealth Management Inc. bought a new position in Erasca during the 3rd quarter valued at about $33,000. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

Erasca Price Performance

NASDAQ:ERAS opened at $13.57 on Friday. Erasca has a one year low of $1.01 and a one year high of $14.17. The company’s 50-day simple moving average is $8.76 and its 200 day simple moving average is $4.54. The firm has a market capitalization of $4.20 billion, a P/E ratio of -30.16 and a beta of 1.21.

Erasca Company 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.