Erasca, Inc. $ERAS Shares Acquired by Rock Springs Capital Management LP

Key Points

• Rock Springs Capital Management increased its Erasca stake by 15.9% to 1.10 million shares, while institutional investors and hedge funds collectively own 67.78% of the company.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $21.64, despite mixed ratings from Bank of America, Morgan Stanley and others.
• Erasca faces investor litigation alleging misleading statements about its ERAS-0015 drug candidate’s performance, safety and intellectual-property protection. The stock opened at $18.87, while the company reported a quarterly EPS loss of $0.60, missing estimates by $0.48.

Rock Springs Capital Management LP increased its stake in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,103,469 shares of the company's stock after buying an additional 151,759 shares during the quarter. Rock Springs Capital Management LP owned about 0.35% of Erasca worth $17,854,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Spruce Street Capital LP acquired a new position in shares of Erasca during the fourth quarter valued at $14,469,000. Commodore Capital LP acquired a new stake in shares of Erasca in the 1st quarter worth about $51,372,000. Vivo Capital LLC increased its holdings in shares of Erasca by 37.2% in the 3rd quarter. Vivo Capital LLC now owns 9,273,428 shares of the company's stock worth $20,216,000 after acquiring an additional 2,516,672 shares during the period. Siren L.L.C. lifted its position in Erasca by 28.4% in the 1st quarter. Siren L.L.C. now owns 11,244,246 shares of the company's stock valued at $181,932,000 after purchasing an additional 2,486,997 shares during the last quarter. Finally, State Street Corp lifted its position in Erasca by 53.2% in the 4th quarter. State Street Corp now owns 6,174,642 shares of the company's stock valued at $22,970,000 after purchasing an additional 2,145,386 shares during the last quarter. 67.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ERAS has been the subject of a number of analyst reports. Bank of America boosted their target price on shares of Erasca from $16.00 to $18.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Erasca in a research note on Thursday, June 11th. HC Wainwright reaffirmed a "buy" rating on shares of Erasca in a report on Tuesday, July 14th. Morgan Stanley boosted their price objective on Erasca from $12.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, July 20th. Finally, Wall Street Zen lowered Erasca from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $21.64.

Key Headlines Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Neutral Sentiment: Investors who purchased Erasca securities between January 14, 2025, and April 26, 2026, have until August 10, 2026, to seek appointment as lead plaintiff. The deadline is procedural and does not determine the lawsuit’s merits. Kaplan Fox Erasca investor notice
• Negative Sentiment: A securities class action alleges that Erasca and certain executives misled investors about ERAS-0015’s competitive performance, safety profile and intellectual-property protection. Law firms cited the company’s prior claims that the drug could match a leading competitor at one-tenth the dose, had no patentability roadblocks and could be protected through 2043, followed by April disclosures of patent-infringement allegations and an admission that the comparisons were not based on head-to-head trials. Levi and Korsinsky Erasca shareholder alert
• Negative Sentiment: A large number of law firms—including Rosen, Kaplan Fox, Kahn Swick & Foti, Robbins, Hagens Berman and others—are soliciting affected investors and publicizing the case. The repeated notices increase visibility of potential litigation costs, management distraction and uncertainty surrounding Erasca’s clinical and commercial prospects, although the allegations have not been proven in court. Hagens Berman Erasca investor deadline

Erasca Stock Down 1.3%

Shares of NASDAQ ERAS opened at $18.87 on Tuesday. The stock has a market cap of $5.87 billion, a P/E ratio of -20.29 and a beta of 0.66. The firm's 50-day simple moving average is $15.61 and its 200 day simple moving average is $14.10. Erasca, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $24.28.

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

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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