Erasca, Inc. (NASDAQ:ERAS) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Consensus rating: Ten analysts give Erasca an average recommendation of "Moderate Buy" (7 buys, 2 sells, 1 hold) with an average 12‑month price target of about $17.88; several brokers (Piper Sandler, JPMorgan) have recently raised targets while Weiss reaffirmed a sell.
• Significant insider selling: Ebun Garner sold 80,000 shares (reducing their stake by ~76%) under a Rule 10b5‑1 plan and Shannon Morris sold 20,000 shares, with insiders now owning 14.40% of the stock.
• Stock and financial snapshot: ERAS opened at $9.99 (50‑day MA $15.79, 200‑day MA $9.17), market cap ~$3.11B and a negative P/E of -22.7; the company beat quarterly EPS (-$0.10 vs. -$0.11) but analysts expect -0.51 EPS for the year and institutions own ~67.8%.

Erasca, Inc. (NASDAQ:ERAS - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $17.8750.

A number of brokerages have weighed in on ERAS. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Erasca in a research report on Thursday, January 22nd. Morgan Stanley set a $10.00 target price on shares of Erasca in a research note on Monday, January 26th. Piper Sandler lifted their target price on shares of Erasca from $11.00 to $18.00 and gave the company an "overweight" rating in a report on Friday, March 13th. JPMorgan Chase & Co. upped their price target on shares of Erasca from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 18th. Finally, Citigroup reiterated a "buy" rating on shares of Erasca in a report on Friday, March 13th.

Erasca Price Performance

Erasca stock opened at $9.99 on Wednesday. The stock's 50-day moving average is $15.79 and its 200-day moving average is $9.17. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -22.70 and a beta of 0.68. Erasca has a 12 month low of $1.06 and a 12 month high of $24.28.

Erasca (NASDAQ:ERAS - Get Free Report) last issued its earnings results on Thursday, March 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.01. Research analysts anticipate that Erasca will post -0.51 EPS for the current year.

Insider Activity

In other news, insider Ebun Garner sold 80,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total value of $1,312,000.00. Following the completion of the sale, the insider owned 25,076 shares in the company, valued at approximately $411,246.40. This trade represents a 76.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Morris sold 20,000 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $15.04, for a total value of $300,800.00. The SEC filing for this sale provides additional information. 14.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ERAS. EntryPoint Capital LLC purchased a new position in shares of Erasca in the fourth quarter valued at $38,000. Stifel Financial Corp purchased a new stake in Erasca during the 4th quarter worth $38,000. XTX Topco Ltd acquired a new position in Erasca in the 4th quarter worth $40,000. Mariner LLC acquired a new position in Erasca in the 4th quarter worth $40,000. Finally, Cibc World Markets Corp purchased a new position in Erasca in the 4th quarter valued at about $43,000. 67.78% of the stock is owned by institutional investors and hedge funds.

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.

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