Erasca, Inc. (NASDAQ:ERAS) Receives Consensus Recommendation of "Hold" from Analysts

Erasca, Inc. (NASDAQ:ERAS - Get Free Report) has been given an average recommendation of "Hold" by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $3.75.

A number of equities analysts have issued reports on ERAS shares. Wall Street Zen raised shares of Erasca from a "sell" rating to a "hold" rating in a research note on Sunday, September 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Erasca in a research note on Wednesday, October 8th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $2.00 price objective (down from $4.00) on shares of Erasca in a research note on Monday, August 18th. Bank of America reiterated an "underperform" rating and issued a $1.00 target price (down from $4.00) on shares of Erasca in a report on Wednesday, September 3rd. Finally, Stifel Nicolaus initiated coverage on shares of Erasca in a report on Wednesday. They issued a "buy" rating and a $4.00 target price on the stock.

Institutional Investors Weigh In On Erasca

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors raised its holdings in shares of Erasca by 13.6% during the second quarter. Captrust Financial Advisors now owns 54,111 shares of the company's stock worth $69,000 after acquiring an additional 6,486 shares during the period. Frazier Life Sciences Management L.P. raised its holdings in shares of Erasca by 0.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 22,729,436 shares of the company's stock worth $28,866,000 after acquiring an additional 153,585 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Erasca during the second quarter worth $29,000. BNP Paribas Financial Markets raised its holdings in shares of Erasca by 58.0% during the second quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company's stock worth $27,000 after acquiring an additional 7,923 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new stake in shares of Erasca during the second quarter worth $156,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Erasca Price Performance

ERAS opened at $2.42 on Friday. Erasca has a one year low of $1.01 and a one year high of $3.31. The stock has a market capitalization of $686.48 million, a P/E ratio of -5.38 and a beta of 1.18. The company's 50 day simple moving average is $1.85 and its 200-day simple moving average is $1.54.

Erasca (NASDAQ:ERAS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.12). As a group, analysts anticipate that Erasca will post -0.73 EPS for the current 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.

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