What is HC Wainwright's Forecast for Erasca FY2025 Earnings?

Key Points

• HC Wainwright analysts have downgraded their FY2025 earnings per share estimate for Erasca to ($0.48), reflecting a minor decrease from the previous estimate of ($0.47).
• Erasca's current full-year earnings consensus forecast is ($0.73) per share, while estimates for future years range from ($0.51) in FY2026 to ($0.01) in FY2029.
• Despite the earnings estimates, Erasca maintains a "Buy" rating from multiple analysts, with a price target ranging between $3.00 and $6.00.

Erasca, Inc. (NASDAQ:ERAS - Free Report) - Stock analysts at HC Wainwright dropped their FY2025 earnings per share estimates for shares of Erasca in a research report issued to clients and investors on Thursday, August 14th. HC Wainwright analyst A. Maldonado now forecasts that the company will post earnings per share of ($0.48) for the year, down from their previous estimate of ($0.47). HC Wainwright currently has a "Buy" rating and a $6.00 target price on the stock. The consensus estimate for Erasca's current full-year earnings is ($0.73) per share. HC Wainwright also issued estimates for Erasca's FY2026 earnings at ($0.51) EPS, FY2027 earnings at ($0.46) EPS, FY2028 earnings at ($0.27) EPS and FY2029 earnings at ($0.01) EPS.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Erasca from a "hold" rating to a "sell" rating in a research note on Friday. Guggenheim set a $3.00 price objective on Erasca and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $2.00 price objective (down previously from $4.00) on shares of Erasca in a report on Monday. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Erasca presently has an average rating of "Moderate Buy" and an average price target of $4.29.

Erasca Stock Performance

Shares of ERAS traded up $0.10 during midday trading on Monday, hitting $1.60. The company had a trading volume of 1,024,746 shares, compared to its average volume of 754,691. The company's 50-day simple moving average is $1.48 and its 200-day simple moving average is $1.42. The firm has a market capitalization of $453.87 million, a P/E ratio of -3.56 and a beta of 1.07. Erasca has a 1 year low of $1.01 and a 1 year high of $3.3050.

Erasca (NASDAQ:ERAS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12).

Institutional Trading of Erasca

Institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp purchased a new stake in shares of Erasca in the 4th quarter valued at about $28,000. Brevan Howard Capital Management LP purchased a new position in shares of Erasca during the fourth quarter worth about $41,000. BNP Paribas Financial Markets grew its holdings in shares of Erasca by 58.0% during the second quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company's stock worth $27,000 after buying an additional 7,923 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Erasca during the second quarter worth about $29,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Erasca by 244.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 23,323 shares of the company's stock worth $59,000 after buying an additional 16,547 shares during the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.

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.