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

Shares of Erasca, Inc. (NASDAQ:ERAS) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.75.

ERAS has been the subject of several analyst reports. Citigroup reissued a “buy” rating on shares of Erasca in a research note on Friday, March 13th. JPMorgan Chase & Co. raised their target price on shares of Erasca from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Wall Street Zen cut Erasca from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Stifel Nicolaus lifted their price target on Erasca from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, HC Wainwright lifted their price target on Erasca from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 13th.

Insider Transactions at Erasca

In other Erasca news, insider Shannon Morris sold 20,000 shares of Erasca stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $15.04, for a total transaction of $300,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ebun Garner sold 80,000 shares of Erasca stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total transaction of $1,312,000.00. Following the transaction, the insider directly owned 25,076 shares of the company’s stock, valued at approximately $411,246.40. This trade represents a 76.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 14.20% of the company’s stock.

Hedge Funds Weigh In On Erasca

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in Erasca by 77.8% during the first quarter. EverSource Wealth Advisors LLC now owns 4,249 shares of the company’s stock worth $69,000 after purchasing an additional 1,859 shares during the period. KBC Group NV bought a new position in Erasca during the first quarter worth $81,000. State of Wyoming bought a new stake in shares of Erasca during the first quarter worth approximately $95,000. ADAR1 Capital Management LLC bought a new stake in shares of Erasca during the first quarter worth approximately $162,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Erasca during the fourth quarter worth approximately $38,000. 67.78% of the stock is owned by institutional investors.

Erasca Price Performance

Shares of NASDAQ ERAS opened at $12.84 on Friday. Erasca has a fifty-two week low of $1.12 and a fifty-two week high of $24.28. The business has a 50-day moving average of $14.60 and a 200-day moving average of $10.21. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -13.81 and a beta of 0.68.

Erasca (NASDAQ:ERAS) last released its earnings results on Monday, May 11th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.48). On average, sell-side analysts expect that Erasca will post -0.55 EPS for the current year.

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.