Jupiter Topco LLC Makes New Investment in Erasca, Inc. $ERAS

Jupiter Topco LLC bought a new stake in Erasca, Inc. (NASDAQ:ERAS) during the 2nd quarter, Holdings Channel reports. The firm bought 76,600 shares of the company’s stock, valued at approximately $1,404,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Erasca in the second quarter valued at approximately $387,544,000. ARCH Venture Management LLC acquired a new stake in Erasca during the second quarter worth $129,917,324. Spruce Street Capital LP purchased a new stake in Erasca in the fourth quarter valued at $14,469,000. Janus Henderson Group PLC purchased a new stake in Erasca in the first quarter valued at $59,988,000. Finally, Commodore Capital LP acquired a new position in shares of Erasca in the 1st quarter valued at $51,372,000. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Erasca Price Performance

Shares of NASDAQ:ERAS opened at $16.19 on Friday. The firm’s 50-day moving average is $18.35 and its two-hundred day moving average is $15.70. Erasca, Inc. has a 1 year low of $1.47 and a 1 year high of $24.28. The firm has a market capitalization of $5.66 billion, a PE ratio of -17.04 and a beta of 0.64.

Erasca (NASDAQ:ERAS) last released its earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Analysts expect that Erasca, Inc. will post -0.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. HSBC set a $20.00 price objective on Erasca in a research report on Tuesday, July 14th. Morgan Stanley increased their target price on shares of Erasca from $12.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Guggenheim lifted their price target on shares of Erasca from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Mizuho decreased their price objective on shares of Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Finally, Wolfe Research set a $16.00 target price on shares of Erasca in a report on Thursday, June 4th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.09.

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.