Erasca (NASDAQ:ERAS) Announces Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Erasca reported a quarterly loss of $0.14 per share, missing analysts’ consensus estimate of a $0.11 loss by $0.03.
• Shares rose 1% to $18.31 following the results. Institutional investors own 67.78% of the stock, while analysts maintain a “Moderate Buy” consensus with an average price target of $21.64.
• Analyst views are mixed but generally constructive: Stifel raised its target to $30, while Morgan Stanley and Bank of America maintained neutral ratings; the company also highlighted encouraging ERAS-0015 clinical updates and appointed Charles S. Fuchs as president of research and development.

Erasca (NASDAQ:ERAS - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03), FiscalAI reports.

Erasca Stock Up 1.0%

Shares of ERAS stock traded up $0.19 on Tuesday, reaching $18.31. 3,426,108 shares of the stock were exchanged, compared to its average volume of 6,297,791. The stock has a market cap of $5.69 billion, a P/E ratio of -19.69 and a beta of 0.66. The firm has a 50 day moving average of $16.89 and a two-hundred day moving average of $14.83. Erasca has a 1-year low of $1.33 and a 1-year high of $24.28.

Institutional Investors Weigh In On Erasca

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of Erasca by 594.8% in the 1st quarter. AQR Capital Management LLC now owns 396,202 shares of the company's stock worth $543,000 after purchasing an additional 339,177 shares during the period. Geode Capital Management LLC grew its holdings in shares of Erasca by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company's stock worth $6,143,000 after purchasing an additional 77,790 shares during the period. Creative Planning grew its holdings in shares of Erasca by 423.3% during the 2nd quarter. Creative Planning now owns 244,332 shares of the company's stock worth $310,000 after purchasing an additional 197,637 shares during the period. New York State Common Retirement Fund increased its position in Erasca by 39.1% during the 2nd quarter. New York State Common Retirement Fund now owns 37,360 shares of the company's stock worth $47,000 after purchasing an additional 10,501 shares in the last quarter. Finally, Invesco Ltd. increased its position in Erasca by 51.6% during the 2nd quarter. Invesco Ltd. now owns 172,226 shares of the company's stock worth $219,000 after purchasing an additional 58,643 shares in the last quarter. Hedge funds and other institutional investors own 67.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ERAS. Stifel Nicolaus raised their price objective on Erasca from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Morgan Stanley upped their target price on Erasca from $12.00 to $21.00 and gave the company an "equal weight" rating in a research note on Monday, July 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Erasca in a research report on Thursday, June 11th. Bank of America raised their price target on Erasca from $16.00 to $18.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of Erasca from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $21.64.

Trending Headlines about Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Encouraging ERAS-0015 data: Erasca reported second-quarter business updates highlighting compelling monotherapy efficacy in patients with second-line-or-later KRAS G12X pancreatic ductal adenocarcinoma, with continued favorable tolerability. The company also advanced its ERAS-0015 combination with panitumumab in colorectal cancer. The update may support confidence in the pipeline and the potential commercial value of the program. Erasca Reports Second Quarter 2026 Business Updates and Financial Results
• Positive Sentiment: New R&D leadership: Erasca appointed internationally recognized oncologist Charles S. Fuchs, M.D., M.P.H., as president of research and development. The appointment could strengthen clinical strategy, development execution and the company’s credibility with investors and potential partners. Erasca Strengthens R&D Leadership
• Neutral Sentiment: Employee inducement grants: The company announced equity awards under Nasdaq Listing Rule 5635(c)(4). The grants are intended to attract or retain employees, although they may create modest dilution for existing shareholders. Erasca Announces Inducement Grants
• Negative Sentiment: Litigation overhang: Several law firms announced or promoted a securities class action against Erasca concerning alleged investor misstatements about ERAS-0015’s competitive position, safety profile and intellectual-property protection. The repeated notices do not represent new findings by themselves, but the lawsuit could increase legal costs, reputational risk and uncertainty around the company’s prior disclosures. Class Action Lawsuit Filed Against Erasca

Erasca Company Profile

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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