Ebun Garner Sells 120,000 Shares of Erasca (NASDAQ:ERAS) Stock

Erasca, Inc. (NASDAQ:ERAS) General Counsel Ebun Garner sold 120,000 shares of the firm’s 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 completion of the sale, the general counsel directly owned 25,076 shares in the company, valued at approximately $140,174.84. This trade represents a 82.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Erasca Stock Up 16.4%

NASDAQ ERAS opened at $6.76 on Friday. Erasca, Inc. has a 52 week low of $1.01 and a 52 week high of $6.85. The firm has a 50 day moving average of $3.28 and a two-hundred day moving average of $2.29. The stock has a market capitalization of $1.92 billion, a PE ratio of -15.02 and a beta of 1.15.

Erasca (NASDAQ:ERAS) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). On average, equities research analysts expect that Erasca, Inc. will post -0.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ERAS has been the topic of a number of recent analyst reports. Morgan Stanley set a $4.00 target price on shares of Erasca in a research report on Thursday. Stifel Nicolaus set a $6.00 price objective on Erasca in a report on Thursday, November 6th. Piper Sandler started coverage on Erasca in a research report on Wednesday. They set an “overweight” rating and a $5.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Erasca in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Erasca from a “sell” rating to a “hold” rating in a research note on Sunday, September 21st. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.44.

Hedge Funds Weigh In On Erasca

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

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.