Erasca, Inc. (NASDAQ:ERAS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Erasca, Inc. (NASDAQ:ERAS) has received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $21.9091.

A number of brokerages have issued reports on ERAS. Wall Street Zen lowered shares of Erasca from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Erasca in a research report on Thursday, June 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Erasca in a research note on Tuesday, July 14th. HC Wainwright lifted 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. Finally, Wolfe Research set a $16.00 price target on shares of Erasca in a research note on Thursday, June 4th.

Erasca Price Performance

Shares of ERAS stock opened at $17.86 on Friday. The company has a market cap of $6.25 billion, a price-to-earnings ratio of -18.80 and a beta of 0.66. Erasca has a 1 year low of $1.33 and a 1 year high of $24.28. The firm has a fifty day moving average price of $17.18 and a 200-day moving average price of $15.00.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). Equities research analysts expect that Erasca will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Erasca in the 2nd quarter worth approximately $387,544,000. VR Adviser LLC increased its position in shares of Erasca by 10.1% during the 2nd quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock valued at $22,678,000 after purchasing an additional 1,640,867 shares during the last quarter. Paradigm Biocapital Advisors LP raised its holdings in Erasca by 4.4% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 14,159,095 shares of the company’s stock valued at $52,672,000 after buying an additional 599,078 shares during the period. Vanguard Group Inc. raised its holdings in Erasca by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,811,832 shares of the company’s stock valued at $27,930,000 after buying an additional 116,235 shares during the period. Finally, Vivo Capital LLC lifted its position in Erasca by 31.0% in the first quarter. Vivo Capital LLC now owns 12,151,480 shares of the company’s stock worth $196,611,000 after buying an additional 2,878,052 shares during 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.