Erasca, Inc. (NASDAQ:ERAS) Shares Acquired by Barclays PLC

Barclays PLC boosted its holdings in Erasca, Inc. (NASDAQ:ERAS) by 627.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 343,930 shares of the company’s stock after purchasing an additional 296,657 shares during the period. Barclays PLC owned about 0.12% of Erasca worth $939,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Federated Hermes Inc. purchased a new position in shares of Erasca during the 2nd quarter valued at approximately $31,000. Sei Investments Co. acquired a new stake in Erasca in the second quarter valued at $39,000. Victory Capital Management Inc. boosted its stake in 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 acquiring an additional 9,689 shares during the last quarter. Creative Planning boosted its stake in Erasca by 23.0% during the 3rd quarter. Creative Planning now owns 20,014 shares of the company’s stock valued at $55,000 after acquiring an additional 3,737 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Erasca by 27.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,861 shares of the company’s stock worth $113,000 after acquiring an additional 10,164 shares in the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ERAS. The Goldman Sachs Group upped their target price on shares of Erasca from $3.00 to $3.50 and gave the company a “buy” rating in a research note on Friday, October 25th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Erasca in a report on Wednesday, November 13th. Bank of America upgraded Erasca from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a report on Tuesday, January 7th. Finally, Jefferies Financial Group began coverage on Erasca in a research note on Monday, November 18th. They set a “buy” rating and a $6.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $5.70.

Erasca Stock Down 10.7 %

Shares of ERAS stock opened at $1.92 on Wednesday. The company has a market cap of $542.84 million, a P/E ratio of -2.31 and a beta of 1.21. The business has a 50 day moving average of $2.73 and a two-hundred day moving average of $2.76. Erasca, Inc. has a 52 week low of $1.64 and a 52 week high of $3.45.

Erasca (NASDAQ:ERAS) last released its quarterly earnings data 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. Analysts expect that Erasca, Inc. will post -0.73 EPS 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.