Erasca (NASDAQ:ERAS) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Erasca (NASDAQ:ERAS - Free Report) in a report issued on Thursday morning, Benzinga reports. They currently have a $8.00 target price on the stock.

ERAS has been the topic of a number of other research reports. The Goldman Sachs Group lifted their price objective on shares of Erasca from $6.00 to $7.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Capital One Financial reaffirmed an overweight rating and set a $8.00 price target on shares of Erasca in a research report on Monday, March 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Erasca presently has a consensus rating of Moderate Buy and a consensus target price of $7.83.

Erasca Stock Performance

NASDAQ ERAS traded down $0.19 on Thursday, reaching $1.96. 488,809 shares of the stock traded hands, compared to its average volume of 745,172. Erasca has a 12 month low of $1.51 and a 12 month high of $3.38. The company has a market cap of $339.79 million, a price-to-earnings ratio of -2.60 and a beta of 1.06. The company has a fifty day moving average price of $2.11 and a 200-day moving average price of $2.04.

Erasca (NASDAQ:ERAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 27th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.04. As a group, research analysts anticipate that Erasca will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Erasca

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERAS. GSA Capital Partners LLP lifted its holdings in shares of Erasca by 57.4% during the third quarter. GSA Capital Partners LLP now owns 404,082 shares of the company's stock worth $796,000 after purchasing an additional 147,411 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Erasca by 350.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,472 shares of the company's stock valued at $37,000 after acquiring an additional 13,597 shares during the period. Barclays PLC boosted its holdings in shares of Erasca by 14.0% in the 3rd quarter. Barclays PLC now owns 42,928 shares of the company's stock valued at $85,000 after acquiring an additional 5,281 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Erasca by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 54,339 shares of the company's stock worth $116,000 after acquiring an additional 13,779 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Erasca by 11.2% during the third quarter. Swiss National Bank now owns 182,300 shares of the company's stock worth $359,000 after purchasing an additional 18,400 shares during the last quarter. Institutional investors and hedge funds own 67.78% of the company's stock.

About Erasca

Erasca, Inc, a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company's lead product is naporafenib which is in phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.