Price T Rowe Associates Inc. MD Buys 10,899 Shares of Erasca, Inc. (NASDAQ:ERAS)

Price T Rowe Associates Inc. MD raised its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 18.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70,037 shares of the company’s stock after purchasing an additional 10,899 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Erasca were worth $176,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ERAS. Silverarc Capital Management LLC raised its position in shares of Erasca by 8.6% in the 4th quarter. Silverarc Capital Management LLC now owns 7,543,901 shares of the company’s stock worth $18,935,000 after acquiring an additional 597,413 shares in the last quarter. Diadema Partners LP bought a new position in shares of Erasca in the 4th quarter worth about $394,000. Hsbc Holdings PLC raised its position in shares of Erasca by 57.3% in the 4th quarter. Hsbc Holdings PLC now owns 28,714 shares of the company’s stock worth $73,000 after acquiring an additional 10,458 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Erasca by 244.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 23,323 shares of the company’s stock worth $59,000 after acquiring an additional 16,547 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Erasca by 8.7% in the 4th quarter. MetLife Investment Management LLC now owns 112,725 shares of the company’s stock worth $283,000 after acquiring an additional 9,039 shares in the last quarter. 67.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ERAS has been the subject of several research analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $4.00 price objective on shares of Erasca in a research report on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Erasca in a research report on Wednesday, April 30th. The Goldman Sachs Group lowered their price objective on Erasca from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Raymond James started coverage on Erasca in a research note on Wednesday, March 26th. They issued an “outperform” rating and a $5.00 target price for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $4.83.

Erasca Price Performance

Shares of ERAS opened at $1.29 on Friday. The stock has a 50-day moving average of $1.34 and a 200-day moving average of $1.95. The company has a market cap of $364.02 million, a PE ratio of -1.55 and a beta of 1.12. Erasca, Inc. has a one year low of $1.01 and a one year high of $3.45.

Erasca (NASDAQ:ERAS) last issued its earnings results on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. Analysts expect that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

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.