Erasca (NASDAQ:ERAS) Price Target Raised to $15.00

Erasca (NASDAQ:ERAS) had its price target increased by HC Wainwright from $11.00 to $15.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Erasca’s FY2027 earnings at ($0.50) EPS, FY2028 earnings at ($0.55) EPS, FY2029 earnings at ($0.55) EPS and FY2030 earnings at ($0.37) EPS.

A number of other research firms have also recently commented on ERAS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Thursday, January 22nd. Mizuho raised their price objective on Erasca from $4.00 to $5.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Stifel Nicolaus set a $10.00 target price on Erasca in a research note on Monday, January 12th. Morgan Stanley set a $10.00 price target on Erasca in a research note on Monday. Finally, Piper Sandler lifted their price objective on shares of Erasca from $5.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $9.22.

Erasca Trading Down 3.5%

NASDAQ:ERAS opened at $10.13 on Monday. The stock has a market capitalization of $3.14 billion, a PE ratio of -22.51 and a beta of 1.15. Erasca has a 1-year low of $1.01 and a 1-year high of $10.71. The firm has a fifty day simple moving average of $5.05 and a 200 day simple moving average of $3.02.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). On average, equities analysts predict that Erasca will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Erasca

In related news, General Counsel Ebun Garner sold 120,000 shares of Erasca stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total transaction of $670,800.00. Following the completion of the sale, the general counsel directly owned 25,076 shares of the company’s stock, valued at approximately $140,174.84. This trade represents a 82.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 14.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ERAS. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Erasca by 25.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,787 shares of the company’s stock valued at $51,000 after acquiring an additional 2,820 shares during the period. Captrust Financial Advisors raised its stake in Erasca by 13.6% in the 2nd quarter. Captrust Financial Advisors now owns 54,111 shares of the company’s stock worth $69,000 after purchasing an additional 6,486 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Erasca by 58.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock valued at $27,000 after purchasing an additional 7,923 shares during the period. New York State Common Retirement Fund boosted its holdings in Erasca by 39.1% in the 2nd quarter. New York State Common Retirement Fund now owns 37,360 shares of the company’s stock valued at $47,000 after purchasing an additional 10,501 shares during the period. Finally, Sio Capital Management LLC grew its position in shares of Erasca by 1.0% during the 2nd quarter. Sio Capital Management LLC now owns 1,369,748 shares of the company’s stock worth $1,740,000 after purchasing an additional 13,562 shares in the last quarter. Institutional investors own 67.78% of the company’s stock.

Key Stories Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Mizuho initiated coverage with an “outperform” rating and a $16.00 price target, signaling sizable upside vs. the recent price and providing fresh buy-side support. Mizuho Outperform Initiation
• Neutral Sentiment: HC Wainwright reiterated a “Buy” rating and a $15 price target even as it updated its models — the maintained rating supports investor interest but the firm lowered forward EPS estimates. HC Wainwright Coverage
• Negative Sentiment: HC Wainwright cut FY2027–FY2030 EPS forecasts materially (examples: FY2030 to ($0.37) from ($0.02) previously; FY2029 and FY2028 also reduced). Lower earnings outlooks increase uncertainty around valuation and may pressure the stock. HC Wainwright Estimate Cuts
• Negative Sentiment: Short interest surged earlier in January to ~26.6M shares (about 11% of shares outstanding) with a short-interest ratio near 2.2 days — higher short activity can amplify downward price moves and volatility. Note: a later data entry showing zero short interest appears to be an error/contradiction in the reporting.

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.