Stifel Nicolaus Issues Positive Forecast for Erasca (NASDAQ:ERAS) Stock Price

Key Points

• Stifel Nicolaus raised its price target on Erasca from $20 to $30 and kept a "buy" rating, implying about a 39.62% upside from the prior close.
• Analyst coverage is mixed but leans positive: seven Buys, one Hold and two Sells, giving a consensus "Moderate Buy" and an average price target of $17.88.
• Insiders have been selling shares recently (Ebun Garner sold 80,000 shares at an average $16.40) while insiders own 14.4% and institutional investors own 67.78% of the stock.

Erasca (NASDAQ:ERAS - Get Free Report) had its price target raised by equities research analysts at Stifel Nicolaus from $20.00 to $30.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 39.62% from the company's previous close.

A number of other brokerages also recently weighed in on ERAS. Weiss Ratings restated a "sell (d-)" rating on shares of Erasca in a research report on Thursday, January 22nd. Morgan Stanley set a $10.00 price target on shares of Erasca in a research report on Monday, January 26th. Citigroup reaffirmed a "buy" rating on shares of Erasca in a research report on Friday, March 13th. HC Wainwright upped their price target on shares of Erasca from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Finally, Guggenheim upped their price target on shares of Erasca from $12.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, March 16th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Erasca has a consensus rating of "Moderate Buy" and an average price target of $17.88.

Erasca Stock Performance

Shares of ERAS stock opened at $21.49 on Monday. Erasca has a one year low of $1.06 and a one year high of $24.28. The company's 50-day moving average is $15.85 and its 200 day moving average is $8.84. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of -48.83 and a beta of 1.04.

Erasca (NASDAQ:ERAS - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. As a group, research analysts predict that Erasca will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ebun Garner sold 80,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total value of $1,312,000.00. Following the transaction, the insider directly owned 25,076 shares of the company's stock, valued at approximately $411,246.40. The trade was a 76.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Morris sold 20,000 shares of Erasca stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $15.04, for a total value of $300,800.00. Additional details regarding this sale are available in the official SEC disclosure. 14.40% of the stock is currently owned by insiders.

Institutional Trading of Erasca

Large investors have recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in Erasca in the 4th quarter worth approximately $38,000. Stifel Financial Corp purchased a new position in shares of Erasca in the 4th quarter worth approximately $38,000. XTX Topco Ltd purchased a new position in shares of Erasca in the 4th quarter worth approximately $40,000. Mariner LLC purchased a new position in shares of Erasca in the 4th quarter worth approximately $40,000. Finally, Cibc World Markets Corp purchased a new position in shares of Erasca in the 4th quarter worth approximately $43,000. Institutional investors own 67.78% of the company's stock.

Erasca Company Profile

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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