Piper Sandler Forecasts Strong Price Appreciation for Erasca (NASDAQ:ERAS) Stock

Erasca (NASDAQ:ERAS) had its price target increased by equities research analysts at Piper Sandler from $11.00 to $18.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 32.16% from the company’s previous close.

ERAS has been the subject of a number of other research reports. Stifel Nicolaus set a $20.00 target price on shares of Erasca in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Erasca in a research report on Thursday, January 22nd. Mizuho boosted their price target on shares of Erasca from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday. HC Wainwright upped their price objective on shares of Erasca from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday. Finally, Citigroup reiterated a “buy” rating on shares of Erasca in a report on Friday. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Erasca Price Performance

Shares of Erasca stock opened at $13.62 on Friday. The stock has a market capitalization of $4.22 billion, a P/E ratio of -30.95 and a beta of 1.16. The business has a 50 day simple moving average of $11.25 and a two-hundred day simple moving average of $5.59. Erasca has a 12 month low of $1.01 and a 12 month high of $16.41.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. As a group, research analysts anticipate that Erasca will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Shannon Morris sold 20,000 shares of Erasca stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $15.04, for a total value of $300,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Ebun Garner sold 120,000 shares of the business’s stock in a transaction on 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 sale, the general counsel owned 25,076 shares in the company, valued at $140,174.84. This represents a 82.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.40% of the stock is owned by insiders.

Institutional Trading of Erasca

A number of large investors have recently modified their holdings of the stock. Spruce Street Capital LP acquired a new stake in Erasca in the fourth quarter valued at $14,469,000. Vivo Capital LLC boosted its position in shares of Erasca by 37.2% during the 3rd quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock worth $20,216,000 after acquiring an additional 2,516,672 shares in the last quarter. State Street Corp boosted its position in shares of Erasca by 53.2% during the 4th quarter. State Street Corp now owns 6,174,642 shares of the company’s stock worth $22,970,000 after acquiring an additional 2,145,386 shares in the last quarter. Paradigm Biocapital Advisors LP increased its holdings in shares of Erasca by 13.9% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 13,560,017 shares of the company’s stock valued at $29,561,000 after acquiring an additional 1,652,835 shares during the last quarter. Finally, VR Adviser LLC increased its holdings in shares of Erasca by 10.1% in the 2nd quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock valued at $22,678,000 after acquiring an additional 1,640,867 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

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.