Bank of America Issues Positive Forecast for Erasca (NASDAQ:ERAS) Stock Price

Key Points

• Bank of America raised Erasca’s price target to $20 from $18 while maintaining a “neutral” rating, implying 10.77% upside from the prior close.
• Analyst sentiment is broadly positive: eight analysts rate Erasca a Buy, two rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and average target of $22.09.
• Erasca shares rose 1.1% to $18.06, but the company reported a quarterly loss of $0.14 per share, missing estimates by $0.03; institutional investors own 67.78% of the stock.

Erasca (NASDAQ:ERAS - Get Free Report) had its price objective lifted by research analysts at Bank of America from $18.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's price objective would suggest a potential upside of 10.77% from the company's previous close.

A number of other equities research analysts also recently issued reports on ERAS. HSBC set a $20.00 price objective on Erasca in a research report on Tuesday, July 14th. Wolfe Research set a $16.00 target price on Erasca in a research note on Thursday, June 4th. Mizuho lowered their price target on Erasca from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Tuesday, May 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Erasca in a research report on Thursday, June 11th. Finally, Morgan Stanley upped their price objective on shares of Erasca from $12.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, July 20th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.09.

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Erasca Stock Up 1.1%

NASDAQ:ERAS traded up $0.20 during mid-day trading on Friday, hitting $18.06. 1,095,516 shares of the stock traded hands, compared to its average volume of 6,223,158. The business's 50-day moving average price is $17.18 and its 200 day moving average price is $15.00. The company has a market cap of $6.32 billion, a PE ratio of -19.02 and a beta of 0.66. Erasca has a 12-month low of $1.33 and a 12-month high of $24.28.

Erasca (NASDAQ:ERAS - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Analysts anticipate that Erasca will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Erasca

Several hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in Erasca by 295.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 216,614 shares of the company's stock valued at $3,505,000 after acquiring an additional 161,845 shares during the period. Bank of America Corp DE lifted its position in Erasca by 89.6% in the first quarter. Bank of America Corp DE now owns 3,055,897 shares of the company's stock valued at $49,444,000 after purchasing an additional 1,444,047 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Erasca by 233.3% during the fourth quarter. SG Americas Securities LLC now owns 48,677 shares of the company's stock valued at $181,000 after purchasing an additional 34,072 shares during the period. Vivo Capital LLC grew its holdings in shares of Erasca by 31.0% in the first quarter. Vivo Capital LLC now owns 12,151,480 shares of the company's stock worth $196,611,000 after purchasing an additional 2,878,052 shares during the last quarter. Finally, EcoR1 Capital LLC bought a new position in shares of Erasca in the first quarter worth approximately $14,562,000. Institutional investors own 67.78% of the company's stock.

More Erasca News

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: HC Wainwright raised its price target for Erasca to $22 from its previous target, while retaining a “Buy” rating. The target implies additional upside from the stock’s recent trading level and likely provided support for the share price. HC Wainwright Increases Erasca Price Target to $22.00
• Neutral Sentiment: HC Wainwright forecasts continued losses, including EPS of negative $0.14 in the third quarter of 2026 and negative $0.15 in the fourth quarter. Its full-year 2026 estimate is negative $0.51, compared with the broader consensus estimate of negative $0.54.
• Negative Sentiment: HC Wainwright reduced its 2026 EPS estimate to negative $0.51 from negative $0.49, its 2027 estimate to negative $0.58 from negative $0.50, and its 2028 estimate to negative $0.61 from negative $0.55. The firm also cut its 2029 estimate to negative $0.70 from negative $0.55 and its 2030 estimate to negative $0.54 from negative $0.33. These revisions point to higher projected losses over the long term.

About Erasca

Erasca, Inc is a clinical‐stage biopharmaceutical company dedicated to the discovery and development of precision medicines for patients with cancer. The company focuses on small molecule therapeutics that target critical signaling pathways involved in tumor growth and survival, with a primary emphasis on inhibitors of the MAPK pathway. Erasca's approach is designed to deliver oral, targeted therapies that address both oncogene‐driven and immuno‐oncology indications, aiming to improve outcomes for patients with unmet medical needs.

Erasca's pipeline comprises multiple development candidates, including small molecule inhibitors engineered to disrupt key nodes in cancer cell signaling.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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