Erasca, Inc. (NASDAQ:ERAS) Receives $4.83 Consensus Target Price from Analysts

Erasca, Inc. (NASDAQ:ERAS - Get Free Report) has received an average rating of "Buy" from the six ratings firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have covered the stock in the last year is $4.83.

Several research firms have commented on ERAS. Raymond James started coverage on shares of Erasca in a research report on Wednesday, March 26th. They issued an "outperform" rating and a $5.00 target price for the company. The Goldman Sachs Group lowered their target price on Erasca from $3.50 to $3.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. 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 research report on Tuesday, January 7th. Morgan Stanley restated an "overweight" rating and set a $4.00 price objective on shares of Erasca in a research note on Friday, March 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $6.00 target price on shares of Erasca in a research report on Wednesday.

Institutional Trading of Erasca

Several institutional investors have recently modified their holdings of ERAS. AXQ Capital LP bought a new stake in shares of Erasca in the 4th quarter valued at approximately $27,000. Mackenzie Financial Corp acquired a new stake in shares of Erasca in the 4th quarter valued at $28,000. Neuberger Berman Group LLC bought a new stake in shares of Erasca in the 4th quarter worth about $33,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Erasca during the 1st quarter worth about $39,000. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Erasca during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 67.78% of the company's stock.

Erasca Stock Performance

Shares of NASDAQ ERAS traded down $0.02 during midday trading on Friday, reaching $1.45. 111,990 shares of the company's stock were exchanged, compared to its average volume of 1,862,381. The stock has a market capitalization of $409.32 million, a PE ratio of -1.74 and a beta of 1.14. Erasca has a 52-week low of $1.01 and a 52-week high of $3.45. The business's fifty day moving average price is $1.35 and its two-hundred day moving average price is $2.07.

Erasca (NASDAQ:ERAS - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. During the same quarter in the prior year, the firm posted ($0.20) EPS. Analysts predict that Erasca will post -0.73 earnings per share for the current fiscal 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.