Barclays PLC Boosts Holdings in Erasca, Inc. (NASDAQ:ERAS)

Barclays PLC lifted its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 377,764 shares of the company’s stock after acquiring an additional 33,834 shares during the period. Barclays PLC owned 0.13% of Erasca worth $948,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in Erasca by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 59,949 shares of the company’s stock worth $150,000 after purchasing an additional 5,614 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Erasca by 42.4% during the 4th quarter. New York State Common Retirement Fund now owns 26,859 shares of the company’s stock worth $67,000 after buying an additional 8,000 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Erasca during the 4th quarter worth $27,000. Invesco Ltd. raised its position in shares of Erasca by 30.2% in the 4th quarter. Invesco Ltd. now owns 48,671 shares of the company’s stock worth $122,000 after buying an additional 11,290 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Erasca by 5.4% in the fourth quarter. Rhumbline Advisers now owns 223,888 shares of the company’s stock valued at $562,000 after acquiring an additional 11,400 shares during the last quarter. 67.78% of the stock is owned by institutional investors and hedge funds.

Erasca Trading Down 8.2 %

Shares of ERAS stock opened at $1.45 on Tuesday. The firm has a fifty day simple moving average of $1.36 and a 200-day simple moving average of $2.03. The company has a market capitalization of $410.77 million, a PE ratio of -1.75 and a beta of 1.12. Erasca, Inc. has a twelve month low of $1.01 and a twelve month high of $3.45.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. During the same quarter in the previous year, the firm earned ($0.20) earnings per share. Equities research analysts predict that Erasca, Inc. will post -0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on Erasca from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Raymond James started coverage on shares of Erasca in a research report on Wednesday, March 26th. They set an “outperform” rating and a $5.00 price target on the stock. Bank of America raised shares of Erasca from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 7th. Morgan Stanley restated an “overweight” rating and set a $4.00 target price on shares of Erasca in a report on Friday, March 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Erasca in a report on Wednesday, April 30th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Erasca currently has an average rating of “Buy” and a consensus target price of $4.83.

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.