Brokerages Set Erasca, Inc. (NASDAQ:ERAS) Price Target at $6.11

Erasca, Inc. (NASDAQ:ERAS) has been given a consensus rating of “Moderate Buy” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $9.2222.

Several brokerages have weighed in on ERAS. Morgan Stanley set a $10.00 price objective on shares of Erasca in a research note on Monday. Stifel Nicolaus set a $10.00 price objective on Erasca in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a report on Thursday, January 22nd. Mizuho began coverage on Erasca in a research report on Tuesday. They set an “outperform” rating and a $16.00 target price for the company. Finally, HC Wainwright raised their price target on Erasca from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, January 26th.

Insider Activity at Erasca

In other news, General Counsel Ebun Garner sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were 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 owned 25,076 shares of the company’s stock, valued at approximately $140,174.84. This represents a 82.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 14.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ERAS. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Erasca by 25.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,787 shares of the company’s stock valued at $51,000 after purchasing an additional 2,820 shares during the last quarter. Palumbo Wealth Management LLC lifted its holdings in shares of Erasca by 11.9% in the fourth quarter. Palumbo Wealth Management LLC now owns 139,385 shares of the company’s stock worth $519,000 after acquiring an additional 14,852 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Erasca in the 4th quarter valued at approximately $56,000. SG Americas Securities LLC grew its holdings in shares of Erasca by 233.3% during the 4th quarter. SG Americas Securities LLC now owns 48,677 shares of the company’s stock valued at $181,000 after purchasing an additional 34,072 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in Erasca during the 3rd quarter worth approximately $40,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Erasca Stock Up 1.9%

Shares of NASDAQ:ERAS opened at $10.51 on Monday. Erasca has a 12-month low of $1.01 and a 12-month high of $10.71. The stock has a market cap of $3.25 billion, a PE ratio of -23.36 and a beta of 1.15. The business has a 50 day moving average of $5.36 and a 200-day moving average of $3.13.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Equities research analysts expect that Erasca will post -0.73 earnings per share for the current year.

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.