Bailard Inc. Purchases New Shares in Erasca, Inc. (NASDAQ:ERAS)

Bailard Inc. purchased a new position in Erasca, Inc. (NASDAQ:ERAS) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 50,000 shares of the company’s stock, valued at approximately $106,000.

Other large investors also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC acquired a new stake in shares of Erasca in the fourth quarter valued at about $28,000. China Universal Asset Management Co. Ltd. lifted its stake in Erasca by 350.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,472 shares of the company’s stock valued at $37,000 after buying an additional 13,597 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Erasca by 207.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,421 shares of the company’s stock worth $68,000 after buying an additional 23,228 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Erasca during the 3rd quarter worth approximately $76,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Erasca by 14.1% during the third quarter. Principal Financial Group Inc. now owns 40,376 shares of the company’s stock valued at $80,000 after acquiring an additional 4,994 shares during the last quarter. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Erasca Stock Performance

NASDAQ ERAS opened at $2.04 on Tuesday. Erasca, Inc. has a fifty-two week low of $1.51 and a fifty-two week high of $3.38. The firm has a market capitalization of $309.04 million, a P/E ratio of -2.46 and a beta of 1.10. The stock’s fifty day moving average is $2.12 and its two-hundred day moving average is $2.05.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings results on Wednesday, March 27th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. As a group, sell-side analysts forecast that Erasca, Inc. will post -0.92 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ERAS. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price target on shares of Erasca in a research note on Thursday, March 28th. Bank of America cut shares of Erasca from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $11.00 to $6.00 in a research note on Friday, January 5th. Capital One Financial reiterated an “overweight” rating and issued a $8.00 target price on shares of Erasca in a research report on Monday, March 11th. Finally, The Goldman Sachs Group boosted their price target on shares of Erasca from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Erasca has an average rating of “Moderate Buy” and a consensus target price of $7.83.

Erasca Company Profile

Erasca, Inc, a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company's lead product is naporafenib which is in phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.