Erasca, Inc. (NASDAQ:ERAS) Stock Has Consensus Price Target of $22.09 According to Brokerages

Shares of Erasca, Inc. (NASDAQ:ERAS) have earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $22.09.

ERAS has been the topic of several recent analyst reports. Bank of America boosted their price objective on Erasca from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Erasca in a report on Tuesday, July 14th. Morgan Stanley lifted their target price on shares of Erasca from $12.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. HC Wainwright boosted their price target on shares of Erasca from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Guggenheim upped 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.

Institutional Trading of Erasca

Several large investors have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC lifted its position in shares of Erasca by 5.0% in the second quarter. Wealthcare Advisory Partners LLC now owns 15,924 shares of the company’s stock worth $292,000 after purchasing an additional 756 shares in the last quarter. Abel Hall LLC grew its position in Erasca by 8.1% during the first quarter. Abel Hall LLC now owns 16,947 shares of the company’s stock valued at $274,000 after purchasing an additional 1,265 shares in the last quarter. Nykredit A S purchased a new position in Erasca during the second quarter valued at approximately $29,000. Allworth Financial LP acquired a new position in Erasca in the 2nd quarter valued at approximately $34,000. Finally, EverSource Wealth Advisors LLC increased its stake in Erasca by 77.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,249 shares of the company’s stock valued at $69,000 after buying an additional 1,859 shares during the period. 67.78% of the stock is owned by institutional investors and hedge funds.

Erasca Stock Up 3.7%

Shares of NASDAQ ERAS opened at $16.03 on Friday. The stock’s fifty day simple moving average is $16.51 and its 200 day simple moving average is $15.90. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of -16.87 and a beta of 0.61. Erasca has a 52-week low of $2.11 and a 52-week high of $24.28.

Erasca (NASDAQ:ERAS) last announced its earnings results on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). As a group, analysts anticipate that Erasca will post -0.49 earnings per share for the current year.

About Erasca

Erasca, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for cancers driven by abnormal signaling in the RAS/MAPK pathway. The company’s research and development activities target tumors with RAS mutations or other alterations that can promote cancer growth and resistance to treatment.

Erasca’s pipeline has included naporafenib, an investigational pan-RAF inhibitor designed to block signaling downstream of RAF proteins, as well as other targeted therapies aimed at genetically defined cancer populations.