Brokerages Set Erasca, Inc. (NASDAQ:ERAS) PT at $12.89

Shares of Erasca, Inc. (NASDAQ:ERAS) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.10.

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Erasca from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley set a $10.00 target price on shares of Erasca in a research report on Monday, January 26th. Piper Sandler upped 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, March 13th. Guggenheim raised their price target on shares of Erasca from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus set a $20.00 price target on shares of Erasca in a report on Tuesday, March 10th.

Insiders Place Their Bets

In other Erasca news, insider Shannon Morris sold 20,000 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Ebun Garner sold 120,000 shares of the 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 sale, the general counsel directly 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. Corporate insiders own 14.40% of the company’s stock.

Institutional Trading of Erasca

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERAS. Frazier Life Sciences Management L.P. increased its position in shares of Erasca by 0.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 22,729,436 shares of the company’s stock worth $28,866,000 after buying an additional 153,585 shares during the period. 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 worth $22,678,000 after buying an additional 1,640,867 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its holdings in Erasca by 4.4% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 14,159,095 shares of the company’s stock valued at $52,672,000 after buying an additional 599,078 shares during the period. Vanguard Group Inc. boosted its position in Erasca by 0.9% during the third quarter. Vanguard Group Inc. now owns 12,811,832 shares of the company’s stock valued at $27,930,000 after acquiring an additional 116,235 shares during the last quarter. Finally, Vivo Capital LLC boosted its position in Erasca by 37.2% during the third quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock valued at $20,216,000 after acquiring an additional 2,516,672 shares during the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

Erasca Stock Up 13.0%

Shares of ERAS stock opened at $15.26 on Tuesday. Erasca has a twelve month low of $1.01 and a twelve month high of $16.41. The stock’s fifty day simple moving average is $12.00 and its 200 day simple moving average is $5.90. The firm has a market capitalization of $4.74 billion, a P/E ratio of -34.68 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last posted its 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. As a group, equities research analysts expect that Erasca will post -0.73 EPS for the current fiscal year.

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.