Erasca (NASDAQ:ERAS) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Erasca (NASDAQ:ERAS) had its price target lifted by analysts at Morgan Stanley from $12.00 to $21.00 in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 8.36% from the stock’s current price.

A number of other brokerages also recently issued reports on ERAS. Mizuho decreased their price objective on Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Stifel Nicolaus lifted their target price on Erasca from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, April 27th. HC Wainwright reissued a “buy” rating on shares of Erasca in a research report on Tuesday, July 14th. Wolfe Research set a $16.00 price target on Erasca in a report on Thursday, June 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Erasca in a research report on Thursday, June 11th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.64.

Erasca Stock Up 3.0%

Shares of NASDAQ:ERAS opened at $19.38 on Monday. Erasca has a 52 week low of $1.33 and a 52 week high of $24.28. The stock has a market capitalization of $6.03 billion, a P/E ratio of -20.84 and a beta of 0.66. The firm has a fifty day simple moving average of $14.90 and a two-hundred day simple moving average of $13.66.

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

Institutional Investors Weigh In On Erasca

Hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Erasca by 594.8% during the 1st quarter. AQR Capital Management LLC now owns 396,202 shares of the company’s stock valued at $543,000 after acquiring an additional 339,177 shares during the period. Geode Capital Management LLC increased its stake in Erasca by 1.6% in the second quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company’s stock worth $6,143,000 after purchasing an additional 77,790 shares during the period. Creative Planning lifted its position in shares of Erasca by 423.3% during the second quarter. Creative Planning now owns 244,332 shares of the company’s stock worth $310,000 after purchasing an additional 197,637 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Erasca by 39.1% during the second quarter. New York State Common Retirement Fund now owns 37,360 shares of the company’s stock worth $47,000 after purchasing an additional 10,501 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Erasca by 51.6% during the second quarter. Invesco Ltd. now owns 172,226 shares of the company’s stock valued at $219,000 after purchasing an additional 58,643 shares during the period. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

More Erasca News

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Morgan Stanley raised its price target on Erasca to $21 from $12 while keeping an “equal weight” rating, signaling a more favorable valuation view and helping support the shares. Morgan Stanley raises Erasca price target
• Neutral Sentiment: Multiple law firms, including Rosen, Pomerantz, Hagens Berman, Faruqi & Faruqi, Kahn Swick & Foti, and others, issued repeated reminders that a securities class-action lawsuit has been filed against Erasca and that the lead-plaintiff deadline is August 10, 2026.
• Negative Sentiment: The lawsuits allege Erasca and certain executives misled investors about the competitive advantage, safety profile, and intellectual-property position of its lead candidate ERAS-0015, which could keep pressure on sentiment and raise legal overhang concerns.
• Negative Sentiment: One notice specifically referenced a prior stock collapse tied to alleged scientific and legal vulnerabilities around ERAS-0015, reinforcing worries about the company’s oncology pipeline narrative.

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.