Erasca (NASDAQ:ERAS) Trading Up 4.1% – Should You Buy?

Erasca, Inc. (NASDAQ:ERAS)’s share price was up 4.1% during mid-day trading on Wednesday . The stock traded as high as $3.68 and last traded at $3.6850. Approximately 564,705 shares traded hands during trading, a decline of 64% from the average daily volume of 1,547,203 shares. The stock had previously closed at $3.54.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ERAS. Wall Street Zen raised shares of Erasca from a “sell” rating to a “hold” rating in a research report on Sunday, September 21st. Stifel Nicolaus set a $6.00 price target on shares of Erasca in a report on Thursday, November 6th. Guggenheim upped their price objective on shares of Erasca from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Erasca in a research report on Wednesday, October 8th. Finally, Mizuho boosted their price target on Erasca from $4.00 to $5.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.13.

Erasca Stock Performance

The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -8.27 and a beta of 1.14. The business’s 50 day moving average is $3.00 and its 200-day moving average is $2.15.

Erasca (NASDAQ:ERAS) last released its earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). Equities research analysts forecast that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Trading of Erasca

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERAS. Russell Investments Group Ltd. acquired a new position in shares of Erasca during the third quarter worth approximately $31,000. SG Americas Securities LLC bought a new position in Erasca during the third quarter worth $32,000. Crowley Wealth Management Inc. acquired a new position in Erasca during the 3rd quarter valued at $33,000. CIBC Bancorp USA Inc. acquired a new position in Erasca during the 3rd quarter valued at $40,000. Finally, BNP Paribas Financial Markets boosted its holdings in Erasca by 58.0% in the 2nd 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 period. Institutional investors and hedge funds own 67.78% of the company’s stock.

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.