Erasca, Inc. (NASDAQ:ERAS) Receives $18.75 Average Price Target from Brokerages

Shares of Erasca, Inc. (NASDAQ:ERAS) have earned a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $20.1111.

ERAS has been the topic of several recent analyst reports. Wolfe Research set a $16.00 price objective on Erasca in a research note on Thursday. Guggenheim upped their target price on shares of Erasca from $12.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Bank of America upgraded shares of Erasca from an “underperform” rating to a “neutral” rating and increased their target price for the company from $9.00 to $16.00 in a report on Thursday. Wall Street Zen lowered shares of Erasca from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, HC Wainwright boosted their price target on shares of Erasca from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 13th.

Erasca Stock Performance

ERAS stock opened at $11.97 on Friday. The business has a 50-day simple moving average of $14.42 and a two-hundred day simple moving average of $10.59. The company has a market capitalization of $3.72 billion, a P/E ratio of -12.87 and a beta of 0.73. Erasca has a 52-week low of $1.21 and a 52-week high of $24.28.

Erasca (NASDAQ:ERAS) last posted its earnings results on Monday, May 11th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.48). As a group, sell-side analysts forecast that Erasca will post -0.55 earnings per share for the current fiscal year.

Insider Activity at Erasca

In related news, insider Ebun Garner sold 80,000 shares of Erasca stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total transaction of $1,312,000.00. Following the sale, the insider directly owned 25,076 shares in the company, valued at approximately $411,246.40. This trade represents a 76.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 14.20% of the company’s stock.

Institutional Trading of Erasca

Several hedge funds have recently added to or reduced their stakes in ERAS. Neuberger Berman Group LLC raised its holdings in shares of Erasca by 11.3% in the 4th quarter. Neuberger Berman Group LLC now owns 12,358 shares of the company’s stock worth $46,000 after purchasing an additional 1,253 shares during the period. Abel Hall LLC lifted its holdings in Erasca by 8.1% during the 1st quarter. Abel Hall LLC now owns 16,947 shares of the company’s stock worth $274,000 after purchasing an additional 1,265 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Erasca by 77.8% in the first quarter. EverSource Wealth Advisors LLC now owns 4,249 shares of the company’s stock valued at $69,000 after acquiring an additional 1,859 shares during the period. 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. Finally, ProShare Advisors LLC grew its stake in Erasca by 11.1% during the fourth quarter. ProShare Advisors LLC now owns 44,216 shares of the company’s stock valued at $164,000 after acquiring an additional 4,430 shares in the last quarter. Institutional investors own 67.78% of the company’s stock.

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.