Erasca (NASDAQ:ERAS) Hits New 1-Year High - Should You Buy?

Key Points

• Erasca hit a new 52-week high of $16.50 (last $16.447) and is trading well above its 50-day ($13.07) and 200-day ($6.73) moving averages, giving it a market cap of about $5.1 billion.
• Wall Street sentiment is mostly bullish: seven Buys, one Hold and two Sells yield a consensus "Moderate Buy" and an average price target of $16.63, with recent analyst upgrades pushing targets up to $20.
• Company fundamentals and insider activity: Erasca is a clinical-stage biopharma with negative EPS (reported -$0.10 last quarter, slightly beating estimates), while notable insider selling occurred (e.g., general counsel sold 120,000 shares) even as insiders own 14.4% and institutions ~67.8%.

Erasca, Inc. (NASDAQ:ERAS - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $16.50 and last traded at $16.4470, with a volume of 6693 shares trading hands. The stock had previously closed at $16.18.

Wall Street Analyst Weigh In

ERAS has been the topic of a number of analyst reports. Mizuho increased their price target on Erasca from $16.00 to $19.00 and gave the stock an "outperform" rating in a research report on Friday, March 13th. HC Wainwright lifted their price objective on Erasca from $15.00 to $20.00 and gave the company a "buy" rating in a report on Friday, March 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Erasca in a report on Thursday, January 22nd. Morgan Stanley set a $10.00 price target on Erasca in a research report on Monday, January 26th. Finally, Piper Sandler boosted their price target on Erasca from $11.00 to $18.00 and gave the company an "overweight" rating in a research note on Friday, March 13th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Erasca currently has a consensus rating of "Moderate Buy" and an average target price of $16.63.

Erasca Stock Up 1.5%

The firm has a market capitalization of $5.10 billion, a P/E ratio of -37.27 and a beta of 1.16. The business's 50 day moving average is $13.07 and its 200-day moving average is $6.73.

Erasca (NASDAQ:ERAS - Get Free Report) last released its earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. Research analysts forecast that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Ebun Garner sold 120,000 shares of the firm's stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total value of $670,800.00. Following the sale, the general counsel directly owned 25,076 shares of the company's stock, valued at $140,174.84. This trade represents a 82.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shannon Morris sold 20,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.04, for a total value of $300,800.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 14.40% of the company's stock.

Hedge Funds Weigh In On Erasca

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new stake in Erasca in the fourth quarter valued at approximately $38,000. Stifel Financial Corp bought a new position in shares of Erasca in the 4th quarter valued at $38,000. XTX Topco Ltd acquired a new stake in shares of Erasca during the 4th quarter valued at $40,000. Mariner LLC acquired a new stake in shares of Erasca during the 4th quarter valued at $40,000. Finally, Cibc World Markets Corp bought a new stake in Erasca during the 4th quarter worth $43,000. Institutional investors own 67.78% of the company's stock.

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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