Charles Schwab Investment Management Inc. Buys 39,066 Shares of Erasca, Inc. (NASDAQ:ERAS)

Charles Schwab Investment Management Inc. raised its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,762,696 shares of the company’s stock after purchasing an additional 39,066 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.62% of Erasca worth $4,424,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Barclays PLC grew its position in Erasca by 627.5% during the third quarter. Barclays PLC now owns 343,930 shares of the company’s stock worth $939,000 after buying an additional 296,657 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Erasca by 36.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,502,698 shares of the company’s stock worth $12,295,000 after acquiring an additional 1,190,807 shares during the period. State Street Corp grew its holdings in shares of Erasca by 145.2% during the 3rd quarter. State Street Corp now owns 6,027,620 shares of the company’s stock worth $16,455,000 after purchasing an additional 3,569,440 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of Erasca during the third quarter valued at approximately $630,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Erasca in the third quarter valued at $994,000. Institutional investors and hedge funds own 67.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ERAS shares. Bank of America upgraded shares of Erasca from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Tuesday, January 7th. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Erasca in a research report on Friday, March 21st. Morgan Stanley reissued an “overweight” rating and issued a $4.00 target price on shares of Erasca in a research note on Friday, March 7th. Finally, The Goldman Sachs Group cut their price target on shares of Erasca from $3.50 to $3.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $4.80.

Erasca Stock Performance

Shares of NASDAQ:ERAS opened at $1.48 on Wednesday. The company has a market capitalization of $418.44 million, a PE ratio of -1.78 and a beta of 1.22. The company’s fifty day moving average is $1.61 and its 200-day moving average is $2.34. Erasca, Inc. has a 52 week low of $1.23 and a 52 week high of $3.45.

Erasca (NASDAQ:ERAS) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. During the same quarter last year, the business earned ($0.20) earnings per share. On average, analysts forecast that Erasca, Inc. will post -0.73 EPS for the current year.

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.