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

Erasca, Inc. (NASDAQ:ERAS) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.1111.

Several equities research analysts recently weighed in on ERAS shares. Stifel Nicolaus set a $10.00 price objective on Erasca in a report on Monday, January 12th. Morgan Stanley set a $4.00 target price on Erasca in a research report on Thursday, January 8th. HC Wainwright lifted their price target on Erasca from $6.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Mizuho upped their price objective on Erasca from $4.00 to $5.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Finally, Guggenheim lifted their target price on shares of Erasca from $3.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, November 14th.

Erasca Price Performance

ERAS stock opened at $9.96 on Monday. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -22.13 and a beta of 1.15. The company has a 50 day simple moving average of $4.62 and a 200 day simple moving average of $2.85. Erasca has a 1 year low of $1.01 and a 1 year high of $10.67.

Erasca (NASDAQ:ERAS) last issued its earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). On average, equities research analysts anticipate that Erasca will post -0.73 EPS for the current fiscal year.

Insider Activity at Erasca

In related news, General Counsel Ebun Garner sold 120,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $5.59, for a total value of $670,800.00. Following the sale, the general counsel owned 25,076 shares of the company’s stock, valued at $140,174.84. The trade was a 82.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 14.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vivo Capital LLC grew its position in shares of Erasca by 37.2% in the 3rd quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock valued at $20,216,000 after buying an additional 2,516,672 shares during the last quarter. Paradigm Biocapital Advisors LP boosted its holdings in Erasca by 13.9% in the third quarter. Paradigm Biocapital Advisors LP now owns 13,560,017 shares of the company’s stock valued at $29,561,000 after acquiring an additional 1,652,835 shares during the last quarter. VR Adviser LLC increased its position in 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 period. Affinity Asset Advisors LLC raised its stake in Erasca by 22.3% during the second quarter. Affinity Asset Advisors LLC now owns 4,085,787 shares of the company’s stock worth $5,189,000 after buying an additional 744,268 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Erasca by 594.8% in the first quarter. AQR Capital Management LLC now owns 396,202 shares of the company’s stock worth $543,000 after purchasing an additional 339,177 shares in the last quarter. 67.78% of the stock is owned by institutional investors and hedge funds.

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.