Deutsche Bank AG Makes New $4.07 Million Investment in Erasca, Inc. $ERAS

Deutsche Bank AG acquired a new stake in Erasca, Inc. (NASDAQ:ERAS) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 222,306 shares of the company’s stock, valued at approximately $4,073,000.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in shares of Erasca by 295.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 216,614 shares of the company’s stock worth $3,505,000 after purchasing an additional 161,845 shares during the period. Handelsbanken Fonder AB bought a new position in Erasca during the second quarter valued at about $1,500,000. Bank of America Corp DE increased its holdings in Erasca by 89.6% during the first quarter. Bank of America Corp DE now owns 3,055,897 shares of the company’s stock worth $49,444,000 after buying an additional 1,444,047 shares during the last quarter. Vivo Capital LLC raised 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 acquiring an additional 2,878,052 shares during the period. Finally, EcoR1 Capital LLC purchased a new position in Erasca in the first quarter valued at about $14,562,000. 67.78% of the stock is owned by hedge funds and other institutional investors.

Erasca Trading Up 0.9%

Shares of ERAS stock opened at $17.76 on Wednesday. The stock has a market capitalization of $6.21 billion, a P/E ratio of -18.69 and a beta of 0.66. The firm’s 50 day moving average is $17.89 and its 200 day moving average is $15.42. Erasca, Inc. has a 12 month low of $1.33 and a 12 month high of $24.28.

Erasca (NASDAQ:ERAS) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). On average, equities analysts predict that Erasca, Inc. will post -0.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ERAS. HC Wainwright increased their target price on shares of Erasca from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Bank of America upped their price objective on Erasca from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Wolfe Research set a $16.00 price objective on Erasca in a report on Thursday, June 4th. HSBC set a $20.00 price objective on Erasca in a report on Tuesday, July 14th. Finally, Morgan Stanley upped their price target on Erasca from $12.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Erasca presently has a consensus 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.