Erasca (NASDAQ:ERAS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Erasca (NASDAQ:ERAS) issued its quarterly earnings data on Thursday. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01, Zacks reports.

Erasca Stock Performance

ERAS remained flat at $1.48 on Thursday. 1,919,568 shares of the company were exchanged, compared to its average volume of 1,688,310. Erasca has a 1-year low of $1.23 and a 1-year high of $3.45. The stock has a market capitalization of $418.44 million, a P/E ratio of -1.78 and a beta of 1.22. The business has a 50-day moving average of $1.67 and a 200 day moving average of $2.38.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ERAS. Morgan Stanley reissued an “overweight” rating and issued a $4.00 price target on shares of Erasca in a report on Friday, March 7th. Bank of America upgraded shares of Erasca from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Erasca presently has an average rating of “Buy” and a consensus target price of $4.90.

About Erasca

Erasca, Inc, a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company’s lead product is naporafenib which is in phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.