Barclays PLC Increases Stock Holdings in Erasca, Inc. (NASDAQ:ERAS)

Barclays PLC lifted its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 627.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 343,930 shares of the company’s stock after buying an additional 296,657 shares during the quarter. Barclays PLC owned about 0.12% of Erasca worth $939,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Frazier Life Sciences Management L.P. acquired a new stake in Erasca during the 2nd quarter worth $38,270,000. Logos Global Management LP purchased a new position in shares of Erasca during the second quarter worth about $13,924,000. Marshall Wace LLP acquired a new stake in shares of Erasca during the second quarter worth about $8,667,000. State Street Corp lifted its holdings in shares of Erasca by 145.2% in the 3rd quarter. State Street Corp now owns 6,027,620 shares of the company’s stock valued at $16,455,000 after purchasing an additional 3,569,440 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Erasca in the 2nd quarter valued at about $5,899,000. Institutional investors and hedge funds own 67.78% of the company’s stock.

Erasca Trading Up 0.4 %

Erasca stock opened at $2.55 on Tuesday. The stock has a market capitalization of $720.95 million, a price-to-earnings ratio of -3.07 and a beta of 1.20. The stock has a 50 day moving average of $2.78 and a two-hundred day moving average of $2.72. Erasca, Inc. has a twelve month low of $1.64 and a twelve month high of $3.45.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. Equities analysts predict that Erasca, Inc. will post -0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ERAS. The Goldman Sachs Group lifted their price target on Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Friday, October 25th. Jefferies Financial Group assumed coverage on shares of Erasca in a report on Monday, November 18th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Erasca in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Erasca has a consensus rating of “Moderate Buy” and an average target price of $5.90.

About Erasca

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.