Morgan Stanley Issues Positive Forecast for Erasca (NASDAQ:ERAS) Stock Price

Erasca (NASDAQ:ERAS) had its target price upped by Morgan Stanley from $12.00 to $21.00 in a report published on Monday, Marketbeat Ratings reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also issued reports on ERAS. Jefferies Financial Group reissued a “buy” rating on shares of Erasca in a research note on Tuesday, July 14th. Stifel Nicolaus upped their price objective on Erasca from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Wall Street Zen lowered Erasca from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. HSBC set a $20.00 target price on Erasca in a research report on Tuesday, July 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Erasca in a research note on Thursday, June 11th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.64.

Erasca Trading Down 1.8%

Shares of NASDAQ:ERAS opened at $18.82 on Monday. Erasca has a 12 month low of $1.33 and a 12 month high of $24.28. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of -20.24 and a beta of 0.66. The firm’s 50-day moving average is $14.72 and its 200 day moving average is $13.55.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.48). As a group, equities analysts forecast that Erasca will post -0.55 EPS for the current fiscal year.

Institutional Trading of Erasca

A number of large investors have recently modified their holdings of ERAS. Spruce Street Capital LP bought a new stake in Erasca during the 4th quarter valued at $14,469,000. Janus Henderson Group PLC bought a new position in shares of Erasca during the 1st quarter worth $59,988,000. Commodore Capital LP bought a new position in shares of Erasca during the 1st quarter worth $51,372,000. Vivo Capital LLC increased its stake in shares of Erasca by 31.0% during the first quarter. Vivo Capital LLC now owns 12,151,480 shares of the company’s stock valued at $196,611,000 after buying an additional 2,878,052 shares during the period. Finally, Siren L.L.C. increased its stake in shares of Erasca by 28.4% during the first quarter. Siren L.L.C. now owns 11,244,246 shares of the company’s stock valued at $181,932,000 after buying an additional 2,486,997 shares during the period. Hedge funds and other institutional investors own 67.78% of the company’s stock.

More Erasca News

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Morgan Stanley raised its price target on Erasca to $21 from $12, suggesting some upside potential despite keeping an “equal weight” rating. Benzinga / The Fly report
• Neutral Sentiment: Analysts and law firms continue to update investors on the August 10 lead-plaintiff deadline in the pending securities class action, but these notices are largely procedural and do not add new operational information. NewsfileCorp article
• Neutral Sentiment: Multiple firms, including Rosen, Schall, Kaplan Fox, Levi & Korsinsky, Faruqi & Faruqi, and Robbins Geller, reiterated that a class action is pending on behalf of investors who bought ERAS stock during the January 14, 2025 to April 26, 2026 class period. GlobeNewswire article
• Negative Sentiment: The class-action allegations, including claims of misleading statements about ERAS-0015 and investor harm, are likely weighing on sentiment and helping explain why Erasca shares are trading lower. GlobeNewswire article

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.