Mizuho Raises Erasca (NASDAQ:ERAS) Price Target to $19.00

Erasca (NASDAQ:ERAS) had its target price lifted by Mizuho from $16.00 to $19.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 39.50% from the stock’s previous close.

ERAS has been the subject of a number of other reports. Citigroup reissued a “buy” rating on shares of Erasca in a research report on Friday. Stifel Nicolaus set a $20.00 target price on shares of Erasca in a report on Tuesday. HC Wainwright boosted their target price on shares of Erasca from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley set a $10.00 price target on shares of Erasca in a report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.00.

Erasca Stock Performance

Shares of ERAS opened at $13.62 on Friday. The stock has a 50-day moving average of $11.25 and a two-hundred day moving average of $5.59. Erasca has a one year low of $1.01 and a one year high of $16.41. The stock has a market cap of $4.22 billion, a P/E ratio of -30.95 and a beta of 1.16.

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

Insider Transactions at Erasca

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in shares of Erasca by 594.8% in the first quarter. AQR Capital Management LLC now owns 396,202 shares of the company’s stock valued at $543,000 after purchasing an additional 339,177 shares during the period. Savant Capital LLC purchased a new stake in Erasca during the 2nd quarter worth approximately $87,000. Los Angeles Capital Management LLC acquired a new stake in shares of Erasca in the second quarter worth approximately $45,000. Geode Capital Management LLC increased its position in shares of Erasca by 1.6% during the second quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company’s stock worth $6,143,000 after purchasing an additional 77,790 shares in the last quarter. Finally, Creative Planning boosted its stake in Erasca by 423.3% during the 2nd quarter. Creative Planning now owns 244,332 shares of the company’s stock worth $310,000 after purchasing an additional 197,637 shares during the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Trending Headlines about 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.