Erasca, Inc. (NASDAQ:ERAS) Receives $6.10 Average PT from Brokerages

Erasca, Inc. (NASDAQ:ERAS) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.08.

A number of research analysts have issued reports on ERAS shares. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Erasca in a research report on Wednesday, November 13th. The Goldman Sachs Group upped their price objective on shares of Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group began coverage on shares of Erasca in a research report on Monday. They issued a “buy” rating and a $6.00 target price on the stock.

Institutional Investors Weigh In On Erasca

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. bought a new position in Erasca in the 2nd quarter worth about $31,000. Sei Investments Co. bought a new stake in Erasca during the second quarter valued at approximately $39,000. Creative Planning grew its stake in Erasca by 23.0% in the 3rd quarter. Creative Planning now owns 20,014 shares of the company’s stock worth $55,000 after buying an additional 3,737 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Erasca by 82.2% during the 2nd quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock valued at $51,000 after buying an additional 9,689 shares in the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC lifted its holdings in shares of Erasca by 41.2% during the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock worth $81,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 67.78% of the company’s stock.

Erasca Price Performance

Shares of NASDAQ ERAS opened at $2.64 on Monday. Erasca has a one year low of $1.51 and a one year high of $3.45. The firm has a market cap of $746.40 million, a price-to-earnings ratio of -3.18 and a beta of 1.16. The stock’s fifty day moving average price is $2.76 and its two-hundred day moving average price is $2.63.

Erasca (NASDAQ:ERAS) last announced its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. On average, equities analysts anticipate that Erasca will post -0.82 earnings per share for the current fiscal year.

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.