Erasca (NASDAQ:ERAS) Stock Price Expected to Rise, HC Wainwright Analyst Says

Erasca (NASDAQ:ERAS) had its price target increased by equities research analysts at HC Wainwright from $11.00 to $15.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 42.86% from the stock’s previous close.

Several other brokerages also recently weighed in on ERAS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Thursday, January 22nd. Guggenheim raised their price objective on shares of Erasca from $3.00 to $5.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Piper Sandler boosted their target price on shares of Erasca from $5.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Morgan Stanley set a $10.00 price target on shares of Erasca in a research report on Monday. Finally, Mizuho increased their target price on shares of Erasca from $4.00 to $5.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 9th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Erasca has a consensus rating of “Moderate Buy” and a consensus price target of $9.22.

Erasca Trading Up 9.3%

Shares of ERAS opened at $10.50 on Monday. The firm has a fifty day moving average price of $4.91 and a 200-day moving average price of $2.97. The firm has a market capitalization of $3.25 billion, a P/E ratio of -23.33 and a beta of 1.15. Erasca has a 12-month low of $1.01 and a 12-month 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). Analysts predict that Erasca will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In other Erasca 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 completion of the transaction, the general counsel owned 25,076 shares in the company, valued at $140,174.84. The trade was a 82.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 14.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Erasca

Several large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of Erasca by 58.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after buying an additional 7,923 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Erasca in the second quarter valued at $29,000. Russell Investments Group Ltd. purchased a new stake in Erasca in the third quarter valued at $31,000. SG Americas Securities LLC acquired a new position in Erasca in the third quarter valued at $32,000. Finally, Crowley Wealth Management Inc. purchased a new position in shares of Erasca during the third quarter worth about $33,000. Hedge funds and other institutional investors own 67.78% of the company’s stock.

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.