Parkman Healthcare Partners LLC Makes New Investment in Erasca, Inc. $ERAS

Key Points

• Parkman Healthcare Partners acquired 258,684 Erasca shares in the second quarter, valued at approximately $4.74 million, giving it about a 0.07% stake. Institutional investors collectively own 67.78% of the company.
• Erasca reported a quarterly loss of $0.14 per share, missing the consensus estimate of a $0.11 loss; analysts expect a full-year loss of $0.48 per share.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $22.09, compared with the stock’s reported opening price of $17.60.

Parkman Healthcare Partners LLC acquired a new stake in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 258,684 shares of the company's stock, valued at approximately $4,739,000. Parkman Healthcare Partners LLC owned about 0.07% of Erasca as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC increased its holdings in shares of Erasca by 5.0% in the second quarter. Wealthcare Advisory Partners LLC now owns 15,924 shares of the company's stock worth $292,000 after purchasing an additional 756 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Erasca by 11.3% during the fourth quarter. Neuberger Berman Group LLC now owns 12,358 shares of the company's stock valued at $46,000 after buying an additional 1,253 shares during the last quarter. Abel Hall LLC boosted its stake in Erasca by 8.1% during the first quarter. Abel Hall LLC now owns 16,947 shares of the company's stock valued at $274,000 after buying an additional 1,265 shares during the last quarter. Allworth Financial LP purchased a new position in Erasca during the 2nd quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Erasca by 77.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,249 shares of the company's stock valued at $69,000 after buying an additional 1,859 shares in the last quarter. Hedge funds and other institutional investors own 67.78% of the company's stock.

Erasca Stock Performance

NASDAQ:ERAS opened at $17.60 on Tuesday. The firm has a market capitalization of $6.16 billion, a PE ratio of -18.53 and a beta of 0.66. The stock's fifty day moving average is $17.81 and its 200 day moving average is $15.37. 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 posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Equities analysts forecast that Erasca, Inc. will post -0.48 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on ERAS shares. Stifel Nicolaus lifted their price objective on Erasca from $20.00 to $30.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. HSBC set a $20.00 target price on shares of Erasca in a report on Tuesday, July 14th. Jefferies Financial Group restated a "buy" rating on shares of Erasca in a research report on Tuesday, July 14th. Morgan Stanley upped their target price on shares of Erasca from $12.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, July 20th. Finally, Mizuho lowered their price target on shares of Erasca from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Tuesday, May 12th. Eight investment 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. According to data from MarketBeat.com, Erasca currently has a consensus rating of "Moderate Buy" and an average price target of $22.09.

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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