Stifel Nicolaus Issues Positive Forecast for Erasca (NASDAQ:ERAS) Stock Price

Erasca (NASDAQ:ERAS) had its target price increased by Stifel Nicolaus from $20.00 to $30.00 in a report released on Monday morning, Marketbeat.com reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on the company. Citigroup reissued a “buy” rating on shares of Erasca in a research note on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Erasca in a research note on Thursday, January 22nd. Piper Sandler raised their price objective on Erasca from $11.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Guggenheim raised their price objective on Erasca from $12.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Mizuho raised their price objective on Erasca from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 13th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.88.

Erasca Stock Performance

Shares of Erasca stock opened at $19.15 on Monday. Erasca has a 52 week low of $1.06 and a 52 week high of $24.28. The stock has a 50 day moving average price of $16.00 and a two-hundred day moving average price of $8.96. The stock has a market capitalization of $5.95 billion, a PE ratio of -43.52 and a beta of 1.04.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Research analysts forecast that Erasca will post -0.51 EPS for the current year.

Insider Activity

In other Erasca news, insider Ebun Garner sold 80,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total value of $1,312,000.00. Following the transaction, the insider owned 25,076 shares of the company’s stock, valued at approximately $411,246.40. The trade was a 76.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Morris sold 20,000 shares of the business’s 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 SEC filing for this sale provides additional information. 14.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new position in Erasca in the fourth quarter worth $38,000. Stifel Financial Corp purchased a new position in Erasca in the fourth quarter worth $38,000. XTX Topco Ltd purchased a new position in Erasca in the fourth quarter worth $40,000. Mariner LLC purchased a new position in Erasca in the fourth quarter worth $40,000. Finally, Cibc World Markets Corp purchased a new position in Erasca in the fourth quarter worth $43,000. Hedge funds and other 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.