HC Wainwright Increases Erasca (NASDAQ:ERAS) Price Target to $20.00

Erasca (NASDAQ:ERAS) had its target price lifted by HC Wainwright from $15.00 to $20.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 46.84% from the stock’s current price.

A number of other brokerages have also recently commented on ERAS. Mizuho initiated coverage on Erasca in a report on Tuesday, January 27th. They issued an “outperform” rating and a $16.00 target price on the stock. Stifel Nicolaus set a $20.00 price target on Erasca in a report on Tuesday. Guggenheim reiterated a “buy” rating and set a $12.00 price objective on shares of Erasca in a research note on Tuesday, January 27th. Morgan Stanley set a $10.00 price target on shares of Erasca in a report on Monday, January 26th. Finally, Piper Sandler upped their price target on shares of Erasca from $5.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Erasca presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Erasca Trading Down 7.0%

Shares of NASDAQ ERAS opened at $13.62 on Friday. Erasca has a 12-month low of $1.01 and a 12-month high of $16.41. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of -30.95 and a beta of 1.16. The firm has a 50 day moving average of $11.25 and a 200 day moving average of $5.59.

Erasca (NASDAQ:ERAS) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. Sell-side analysts predict that Erasca will post -0.73 EPS for the current year.

Insider Activity

In other news, General Counsel Ebun Garner sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total transaction of $670,800.00. Following the completion of the transaction, the general counsel owned 25,076 shares in the company, valued at $140,174.84. This trade represents a 82.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Shannon Morris sold 20,000 shares of Erasca stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.04, for a total value of $300,800.00. The SEC filing for this sale provides additional information. 14.40% of the stock is owned by corporate insiders.

Institutional Trading of Erasca

Several hedge funds have recently modified their holdings of the company. Spruce Street Capital LP bought a new position in shares of Erasca during the 4th quarter valued at approximately $14,469,000. Vivo Capital LLC increased its position in Erasca by 37.2% in the third quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock worth $20,216,000 after purchasing an additional 2,516,672 shares during the last quarter. State Street Corp increased its position in Erasca by 53.2% in the fourth quarter. State Street Corp now owns 6,174,642 shares of the company’s stock worth $22,970,000 after purchasing an additional 2,145,386 shares during the last quarter. Paradigm Biocapital Advisors LP raised its stake in Erasca by 13.9% during the third quarter. Paradigm Biocapital Advisors LP now owns 13,560,017 shares of the company’s stock valued at $29,561,000 after purchasing an additional 1,652,835 shares in the last quarter. Finally, VR Adviser LLC raised its stake in Erasca by 10.1% during the second quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock valued at $22,678,000 after purchasing an additional 1,640,867 shares in the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Piper Sandler raised its price target from $11 to $18 and moved to an “overweight” rating, signalling ~32% upside from the current price and increasing institutional buy-side interest. Article Title
• Positive Sentiment: H.C. Wainwright raised its price target from $15 to $20 and reiterated a “buy” view, implying ~47% upside and adding momentum from another sell-side upgrade. Article Title Street Insider
• Positive Sentiment: Mizuho raised its price target from $16 to $19 and maintained an “outperform” rating, another analyst signalling material upside (~39%). Article Title
• Positive Sentiment: Erasca reported quarterly EPS of ($0.10), beating the consensus of ($0.11) by $0.01 — a modest beat that removes a near-term earnings miss concern. Press Release
• Positive Sentiment: Company update: encouraging early clinical activity in ERAS-0015 dose escalation with responses across multiple RAS-mutant tumors and favorable safety/PK — this supports the therapeutic narrative and long-term upside potential. GlobeNewswire
• Neutral Sentiment: Routine preview coverage noted Erasca was projected to post quarterly earnings — background procedural reporting with limited market-moving detail. American Banking News

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.