Erasca, Inc. (NASDAQ:ERAS) Receives $16.63 Consensus Price Target from Brokerages

Shares of Erasca, Inc. (NASDAQ:ERAS) have earned an average rating of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.6250.

ERAS has been the subject of a number of recent research reports. Mizuho boosted their price target on shares of Erasca from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 13th. Piper Sandler boosted their price target on shares of Erasca from $11.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. boosted their price target on shares of Erasca from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Citigroup restated a “buy” rating on shares of Erasca in a research note on Friday, March 13th. Finally, Morgan Stanley set a $10.00 price target on shares of Erasca in a research note on Monday, January 26th.

Erasca Stock Performance

Shares of NASDAQ ERAS opened at $16.31 on Friday. The company has a market capitalization of $5.07 billion, a P/E ratio of -37.07 and a beta of 1.04. Erasca has a 52-week low of $1.06 and a 52-week high of $18.20. The company’s 50 day moving average price is $14.31 and its 200-day moving average price is $7.70.

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. Analysts forecast that Erasca will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Erasca

In other news, insider Ebun Garner sold 80,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $16.40, for a total value of $1,312,000.00. Following the completion of the sale, the insider owned 25,076 shares in the company, valued at $411,246.40. This represents a 76.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Morris sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $15.04, for a total transaction of $300,800.00. The SEC filing for this sale provides additional information. Corporate insiders own 14.40% of the company’s stock.

Institutional Trading of Erasca

Several institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its stake in shares of Erasca by 16.9% in the 4th quarter. Invesco Ltd. now owns 329,795 shares of the company’s stock worth $1,227,000 after acquiring an additional 47,770 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Erasca in the 4th quarter worth about $112,000. XTX Topco Ltd purchased a new position in shares of Erasca in the 4th quarter worth about $40,000. Ikarian Capital LLC purchased a new position in shares of Erasca in the 4th quarter worth about $2,736,000. Finally, Susquehanna Portfolio Strategies LLC boosted its holdings in shares of Erasca by 58.4% in the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 59,087 shares of the company’s stock worth $220,000 after buying an additional 21,787 shares during the last quarter. Institutional investors own 67.78% of the company’s stock.

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.