Erasca (NASDAQ:ERAS) Coverage Initiated at Mizuho

Mizuho assumed coverage on shares of Erasca (NASDAQ:ERAS) in a report released on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $16.00 price target on the stock. Mizuho’s target price suggests a potential upside of 57.95% from the company’s previous close.

A number of other equities research analysts also recently commented on ERAS. Weiss Ratings restated a “sell (d-)” rating on shares of Erasca in a research report on Thursday, January 22nd. Stifel Nicolaus set a $10.00 price objective on Erasca in a research report on Monday, January 12th. HC Wainwright upped their target price on shares of Erasca from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler increased their target price on shares of Erasca from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Finally, Guggenheim reiterated a “buy” rating and set a $12.00 price target on shares of Erasca in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.22.

Erasca Price Performance

NASDAQ:ERAS opened at $10.13 on Tuesday. The company’s 50-day moving average is $5.05 and its two-hundred day moving average is $3.02. Erasca has a 1-year low of $1.01 and a 1-year high of $10.71. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -22.51 and a beta of 1.15.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). As a group, equities analysts anticipate that Erasca will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Erasca news, General Counsel Ebun Garner sold 120,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $5.59, for a total transaction of $670,800.00. Following the sale, the general counsel directly owned 25,076 shares in the company, valued at $140,174.84. This represents a 82.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ERAS. Mirae Asset Global Investments Co. Ltd. increased its stake in Erasca by 25.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,787 shares of the company’s stock worth $51,000 after buying an additional 2,820 shares during the period. Palumbo Wealth Management LLC grew its stake in shares of Erasca by 11.9% in the fourth quarter. Palumbo Wealth Management LLC now owns 139,385 shares of the company’s stock worth $519,000 after acquiring an additional 14,852 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Erasca during the fourth quarter worth $56,000. SG Americas Securities LLC raised its stake in shares of Erasca by 233.3% in the fourth quarter. SG Americas Securities LLC now owns 48,677 shares of the company’s stock valued at $181,000 after acquiring an additional 34,072 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Erasca in the third quarter valued at $40,000. Institutional investors and hedge funds own 67.78% of the company’s stock.

Erasca News Roundup

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Mizuho initiated coverage with an “outperform” rating and a $16.00 price target, signaling sizable upside vs. the recent price and providing fresh buy-side support. Mizuho Outperform Initiation
• Neutral Sentiment: HC Wainwright reiterated a “Buy” rating and a $15 price target even as it updated its models — the maintained rating supports investor interest but the firm lowered forward EPS estimates. HC Wainwright Coverage
• Negative Sentiment: HC Wainwright cut FY2027–FY2030 EPS forecasts materially (examples: FY2030 to ($0.37) from ($0.02) previously; FY2029 and FY2028 also reduced). Lower earnings outlooks increase uncertainty around valuation and may pressure the stock. HC Wainwright Estimate Cuts
• Negative Sentiment: Short interest surged earlier in January to ~26.6M shares (about 11% of shares outstanding) with a short-interest ratio near 2.2 days — higher short activity can amplify downward price moves and volatility. Note: a later data entry showing zero short interest appears to be an error/contradiction in the reporting.

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.