Erasca (NASDAQ:ERAS) Given New $20.00 Price Target at Guggenheim

Erasca (NASDAQ:ERAS) had its price target raised by Guggenheim from $12.00 to $20.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

ERAS has been the topic of several other reports. Morgan Stanley set a $10.00 target price on shares of Erasca in a research report on Monday, January 26th. Mizuho raised their price objective on shares of Erasca from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Erasca in a research report on Thursday, January 22nd. Stifel Nicolaus set a $20.00 target price on shares of Erasca in a report on Tuesday, March 10th. Finally, Piper Sandler lifted their price target on shares of Erasca from $11.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Erasca has a consensus rating of “Moderate Buy” and a consensus price target of $12.89.

Erasca Trading Down 0.8%

Shares of ERAS stock opened at $13.51 on Monday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -30.70 and a beta of 1.16. The stock has a 50 day simple moving average of $11.45 and a 200-day simple moving average of $5.70. Erasca has a 12-month low of $1.01 and a 12-month high of $16.41.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. On average, equities analysts forecast that Erasca will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Shannon Morris sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $15.04, for a total value of $300,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Ebun Garner sold 120,000 shares of Erasca 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 transaction, the general counsel owned 25,076 shares of the company’s stock, valued at approximately $140,174.84. The trade was 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 insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ERAS. EntryPoint Capital LLC purchased a new stake in Erasca in the 4th quarter valued at approximately $38,000. Stifel Financial Corp purchased a new position in Erasca in the 4th quarter valued at about $38,000. XTX Topco Ltd acquired a new stake in shares of Erasca during the 4th quarter worth about $40,000. Mariner LLC acquired a new stake in shares of Erasca during the 4th quarter worth about $40,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Erasca during the fourth quarter worth about $43,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.

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.