Deutsche Bank AG acquired a new position in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 222,306 shares of the company's stock, valued at approximately $4,073,000. Deutsche Bank AG owned about 0.07% of Erasca as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Erasca by 295.5% during the first quarter. The Manufacturers Life Insurance Company now owns 216,614 shares of the company's stock worth $3,505,000 after purchasing an additional 161,845 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Erasca in the second quarter valued at about $1,500,000. Bank of America Corp DE raised its holdings in Erasca by 89.6% during the 1st quarter. Bank of America Corp DE now owns 3,055,897 shares of the company's stock worth $49,444,000 after purchasing an additional 1,444,047 shares during the last quarter. Vivo Capital LLC raised its stake in Erasca by 31.0% during the first quarter. Vivo Capital LLC now owns 12,151,480 shares of the company's stock worth $196,611,000 after buying an additional 2,878,052 shares during the last quarter. Finally, EcoR1 Capital LLC bought a new position in shares of Erasca in the 1st quarter worth about $14,562,000. Institutional investors and hedge funds own 67.78% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on ERAS shares. Jefferies Financial Group reiterated a "buy" rating on shares of Erasca in a report on Tuesday, July 14th. Morgan Stanley upped their target price on shares of Erasca from $12.00 to $21.00 and gave the stock an "equal weight" rating in a report on Monday, July 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Erasca in a research report on Thursday, June 11th. Guggenheim lifted their price target on Erasca from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen lowered Erasca from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.09.
Read Our Latest Stock Report on ERAS
Erasca Price Performance
NASDAQ ERAS opened at $17.76 on Wednesday. The company has a fifty day moving average price of $17.89 and a 200-day moving average price of $15.42. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of -18.69 and a beta of 0.66. Erasca, Inc. has a 1 year low of $1.33 and a 1 year high of $24.28.
Erasca (NASDAQ:ERAS - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). On average, research analysts anticipate that Erasca, Inc. will post -0.49 EPS for the current fiscal year.
About Erasca
(
Free Report)
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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