What is HC Wainwright’s Estimate for Erasca FY2024 Earnings?

Erasca, Inc. (NASDAQ:ERAS) – Research analysts at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for shares of Erasca in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst A. Maldonado now forecasts that the company will post earnings of ($0.70) per share for the year, up from their prior estimate of ($0.89). HC Wainwright currently has a “Buy” rating and a $6.00 price target on the stock. The consensus estimate for Erasca’s current full-year earnings is ($0.82) per share. HC Wainwright also issued estimates for Erasca’s Q4 2024 earnings at ($0.12) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($0.52) EPS, FY2026 earnings at ($0.55) EPS, FY2027 earnings at ($0.51) EPS and FY2028 earnings at ($0.32) EPS.

Erasca (NASDAQ:ERAS) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06.

Separately, The Goldman Sachs Group raised their price target on shares of Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Erasca has a consensus rating of “Moderate Buy” and a consensus target price of $6.10.

Erasca Stock Down 5.0 %

ERAS opened at $2.67 on Monday. The stock has a market cap of $754.89 million, a PE ratio of -3.22 and a beta of 1.16. The company has a fifty day moving average of $2.78 and a 200-day moving average of $2.62. Erasca has a twelve month low of $1.51 and a twelve month high of $3.45.

Institutional Trading of Erasca

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Erasca by 14.4% in the 1st quarter. Vanguard Group Inc. now owns 4,338,108 shares of the company’s stock worth $8,937,000 after purchasing an additional 545,765 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Erasca by 286.5% in the first quarter. Acadian Asset Management LLC now owns 346,953 shares of the company’s stock worth $713,000 after acquiring an additional 257,174 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC increased its holdings in shares of Erasca by 41.2% during the second quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock valued at $81,000 after acquiring an additional 10,000 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Erasca by 50.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 392,490 shares of the company’s stock worth $926,000 after purchasing an additional 131,829 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Erasca by 27.2% during the 2nd quarter. Rhumbline Advisers now owns 154,615 shares of the company’s stock valued at $365,000 after purchasing an additional 33,106 shares during the last quarter. Institutional investors own 67.78% of the company’s stock.

Erasca Company Profile

Erasca, Inc, a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company’s lead product is naporafenib which is in phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.