California State Teachers Retirement System Grows Position in Erasca, Inc. $ERAS

Key Points

• California State Teachers Retirement System increased its Erasca stake by 1,812.7% in the first quarter, adding 193,760 shares to own 204,449 shares valued at approximately $3.3 million. Institutional investors collectively hold 67.78% of the company.
• Erasca shares opened at $18.41, compared with a 52-week range of $1.33 to $24.28. The company reported a quarterly loss of $0.60 per share, missing consensus estimates of a $0.12 loss.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $21.64, although the company faces investor lawsuits alleging misleading disclosures about its lead cancer drug candidate; these remain unproven allegations.

California State Teachers Retirement System boosted its position in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 1,812.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,449 shares of the company's stock after buying an additional 193,760 shares during the period. California State Teachers Retirement System owned 0.07% of Erasca worth $3,308,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. KBC Group NV acquired a new stake in Erasca during the 1st quarter worth $81,000. State of Wyoming acquired a new position in Erasca in the 1st quarter valued at about $95,000. EntryPoint Capital LLC acquired a new stake in Erasca during the 4th quarter worth approximately $38,000. Stifel Financial Corp purchased a new position in shares of Erasca in the 4th quarter valued at approximately $38,000. Finally, XTX Topco Ltd acquired a new position in shares of Erasca in the fourth quarter valued at approximately $40,000. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

Erasca Price Performance

Shares of ERAS stock opened at $18.41 on Monday. The business's fifty day moving average price is $16.80 and its 200 day moving average price is $14.77. Erasca, Inc. has a 1-year low of $1.33 and a 1-year high of $24.28. The firm has a market capitalization of $5.73 billion, a PE ratio of -19.80 and a beta of 0.66.

Erasca (NASDAQ:ERAS - Get Free Report) last released its earnings results on Monday, May 11th. The company reported ($0.60) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.48). Equities research analysts expect that Erasca, Inc. will post -0.54 earnings per share for the current fiscal year.

Erasca News Summary

Here are the key news stories impacting Erasca this week:

• Negative Sentiment: Several firms, including Hagens Berman, allege that Erasca and certain executives misled investors about the competitive advantages, safety profile and intellectual-property protection of ERAS-0015, the company’s lead oncology candidate. These are allegations, not proven findings. Hagens Berman Erasca class action alert
• Negative Sentiment: The lawsuit covers investors who purchased Erasca securities from January 14, 2025, through April 26, 2026. Continued legal notices could increase reputational, financial and disclosure risks for the biotechnology company and contribute to volatility. Bronstein Gewirtz Grossman Erasca lawsuit announcement
• Neutral Sentiment: Investors have until August 10, 2026, to apply to become lead plaintiff. The many releases issued by investor-rights firms primarily seek clients and repeat the same deadline; they do not represent new clinical, regulatory or financial information from Erasca. Kahn Swick and Foti Erasca deadline notice

Analyst Ratings Changes

Several research firms have recently commented on ERAS. Morgan Stanley upped their price target on Erasca from $12.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Monday, July 20th. Stifel Nicolaus boosted their price objective on shares of Erasca from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, April 27th. HC Wainwright restated a "buy" rating on shares of Erasca in a research report on Tuesday, July 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Erasca in a research note on Thursday, June 11th. Finally, HSBC set a $20.00 target price on shares of Erasca in a report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.64.

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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