Erasca (NASDAQ:ERAS) Price Target Raised to $18.00 at Bank of America

Erasca (NASDAQ:ERAS) had its target price hoisted by Bank of America from $16.00 to $18.00 in a report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Erasca from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Wolfe Research set a $16.00 target price on Erasca in a research report on Thursday, June 4th. Guggenheim raised their price target on Erasca from $12.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Mizuho cut their price objective on Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Finally, Stifel Nicolaus raised their target price on Erasca from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.64.

Erasca Stock Up 8.9%

ERAS stock opened at $19.50 on Tuesday. Erasca has a 52-week low of $1.33 and a 52-week high of $24.28. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -20.97 and a beta of 0.66. The business has a fifty day moving average of $13.99 and a two-hundred day moving average of $13.09.

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

Institutional Trading of Erasca

A number of institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Erasca by 77.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,249 shares of the company’s stock valued at $69,000 after buying an additional 1,859 shares in the last quarter. KBC Group NV acquired a new position in Erasca in the first quarter valued at $81,000. State of Wyoming purchased a new position in shares of Erasca during the first quarter worth about $95,000. ADAR1 Capital Management LLC acquired a new stake in shares of Erasca during the first quarter worth about $162,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Erasca in the 4th quarter valued at about $38,000. 67.78% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Erasca reported updated preliminary Phase 1 data for ERAS-0015, its pan-RAS molecular glue for KRAS-mutant solid tumors, showing encouraging early activity and outlining a path toward potentially registration-enabling studies. Article Title
• Positive Sentiment: Bank of America raised its price target on Erasca to $18 from $16, signaling continued analyst interest even though the rating remained neutral. Article Title
• Neutral Sentiment: Erasca announced an upsized public offering of 31.4 million shares at $17.50 per share, aiming to raise about $550 million before expenses to fund R&D and general corporate purposes. Article Title
• Negative Sentiment: Investors are facing a flood of class-action and securities-fraud notices related to Erasca, with multiple firms highlighting August 10, 2026 lead-plaintiff deadlines, which can keep pressure on sentiment. Article Title
• Negative Sentiment: The lawsuits stem from allegations tied to ERAS-0015 disclosures, including concerns raised after a patent infringement dispute and a reported patient death, adding overhang to the stock. Article Title

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.