Erasca, Inc. (NASDAQ:ERAS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Erasca, Inc. (NASDAQ:ERAS) have earned an average rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.1111.

ERAS has been the topic of a number of analyst reports. Mizuho increased their price target on Erasca from $4.00 to $5.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Guggenheim upped their target price on Erasca from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Stifel Nicolaus set a $10.00 price target on Erasca in a research report on Monday, January 12th. Morgan Stanley set a $4.00 price target on Erasca in a research note on Thursday, January 8th. Finally, HC Wainwright increased their price objective on shares of Erasca from $6.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th.

Erasca Stock Down 3.2%

Shares of Erasca stock opened at $9.96 on Monday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -22.13 and a beta of 1.15. Erasca has a twelve month low of $1.01 and a twelve month high of $10.67. The company has a 50-day simple moving average of $4.62 and a two-hundred day simple moving average of $2.85.

Erasca (NASDAQ:ERAS) last announced its earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, sell-side analysts anticipate that Erasca will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Erasca

In related news, General Counsel Ebun Garner sold 120,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $5.59, for a total transaction of $670,800.00. Following the sale, the general counsel owned 25,076 shares in the company, valued at approximately $140,174.84. This trade represents a 82.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 14.40% of the company’s stock.

Institutional Investors Weigh In On Erasca

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERAS. AQR Capital Management LLC boosted its holdings in shares of Erasca by 594.8% in the 1st quarter. AQR Capital Management LLC now owns 396,202 shares of the company’s stock valued at $543,000 after purchasing an additional 339,177 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Erasca by 130.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 36,362 shares of the company’s stock worth $46,000 after buying an additional 20,558 shares during the last quarter. Savant Capital LLC bought a new stake in shares of Erasca during the 2nd quarter worth $87,000. Los Angeles Capital Management LLC acquired a new stake in Erasca in the second quarter valued at about $45,000. Finally, Geode Capital Management LLC grew its position in Erasca by 1.6% in the second quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company’s stock valued at $6,143,000 after acquiring an additional 77,790 shares during the last quarter. 67.78% of the stock is currently owned by institutional investors.

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.