Erasca (NASDAQ:ERAS) Given New $20.00 Price Target at Bank of America

Erasca (NASDAQ:ERAS) had its price target upped by investment analysts at Bank of America from $18.00 to $20.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential upside of 10.77% from the stock’s previous close.

A number of other analysts have also commented on the company. Mizuho dropped their price target on Erasca from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Jefferies Financial Group restated a “buy” rating on shares of Erasca in a report on Tuesday, July 14th. HSBC set a $20.00 target price on shares of Erasca in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research note on Thursday, June 11th. Finally, Wall Street Zen downgraded shares of Erasca from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

Erasca Price Performance

NASDAQ:ERAS traded up $0.20 during mid-day trading on Friday, reaching $18.06. 1,095,516 shares of the company’s stock traded hands, compared to its average volume of 6,223,158. The company has a 50 day moving average price of $17.18 and a 200-day moving average price of $15.00. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of -19.02 and a beta of 0.66. Erasca has a 12-month low of $1.33 and a 12-month high of $24.28.

Erasca (NASDAQ:ERAS) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). As a group, analysts forecast that Erasca will post -0.54 EPS for the current year.

Institutional Trading of Erasca

A number of hedge funds and other institutional investors have recently modified their holdings of ERAS. BNP Paribas Financial Markets increased its stake in shares of Erasca by 58.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after acquiring an additional 7,923 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Erasca during the second quarter worth about $29,000. Russell Investments Group Ltd. purchased a new stake in Erasca in the third quarter worth about $31,000. Allworth Financial LP purchased a new stake in Erasca in the second quarter worth about $34,000. Finally, EntryPoint Capital LLC bought a new position in shares of Erasca during the fourth quarter valued at approximately $38,000. 67.78% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: HC Wainwright raised its price target for Erasca to $22 from its previous target, while retaining a “Buy” rating. The target implies additional upside from the stock’s recent trading level and likely provided support for the share price. HC Wainwright Increases Erasca Price Target to $22.00
• Neutral Sentiment: HC Wainwright forecasts continued losses, including EPS of negative $0.14 in the third quarter of 2026 and negative $0.15 in the fourth quarter. Its full-year 2026 estimate is negative $0.51, compared with the broader consensus estimate of negative $0.54.
• Negative Sentiment: HC Wainwright reduced its 2026 EPS estimate to negative $0.51 from negative $0.49, its 2027 estimate to negative $0.58 from negative $0.50, and its 2028 estimate to negative $0.61 from negative $0.55. The firm also cut its 2029 estimate to negative $0.70 from negative $0.55 and its 2030 estimate to negative $0.54 from negative $0.33. These revisions point to higher projected losses over the long term.

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.