Brokerages Set Erasca, Inc. (NASDAQ:ERAS) Price Target at $9.22

Shares of Erasca, Inc. (NASDAQ:ERAS) have earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $9.2222.

A number of research firms have recently weighed in on ERAS. Weiss Ratings restated a “sell (d-)” rating on shares of Erasca in a report on Thursday, January 22nd. Morgan Stanley set a $10.00 price objective on Erasca in a research note on Monday, January 26th. Mizuho began coverage on shares of Erasca in a report on Tuesday, January 27th. They set an “outperform” rating and a $16.00 price objective on the stock. HC Wainwright increased their target price on shares of Erasca from $11.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus set a $10.00 price target on shares of Erasca in a report on Monday, January 12th.

Insider Buying and Selling at Erasca

In other news, General Counsel Ebun Garner sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total value of $670,800.00. Following the completion of the transaction, the general counsel directly owned 25,076 shares of the company’s stock, valued at $140,174.84. This represents a 82.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 14.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ERAS. Frazier Life Sciences Management L.P. boosted its position in 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 purchasing an additional 153,585 shares during the period. VR Adviser LLC grew its stake in Erasca by 10.1% in the 2nd quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock valued at $22,678,000 after buying an additional 1,640,867 shares in the last quarter. Paradigm Biocapital Advisors LP raised its holdings in Erasca by 4.4% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 14,159,095 shares of the company’s stock valued at $52,672,000 after acquiring an additional 599,078 shares during the period. Vanguard Group Inc. lifted its position in shares of Erasca by 0.9% during the third quarter. Vanguard Group Inc. now owns 12,811,832 shares of the company’s stock worth $27,930,000 after acquiring an additional 116,235 shares in the last quarter. Finally, Vivo Capital LLC boosted its holdings in shares of Erasca by 37.2% in the third quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock worth $20,216,000 after acquiring an additional 2,516,672 shares during the period. Institutional investors own 67.78% of the company’s stock.

Erasca Price Performance

ERAS opened at $12.54 on Friday. Erasca has a fifty-two week low of $1.01 and a fifty-two week high of $13.28. The firm has a market capitalization of $3.88 billion, a PE ratio of -27.87 and a beta of 1.20. The company’s 50-day moving average is $7.97 and its 200 day moving average is $4.25.

Erasca Company Profile

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.