Strs Ohio Invests $534,000 in Erasca, Inc. $ERAS

Strs Ohio acquired a new position in shares of Erasca, Inc. (NASDAQ:ERAS) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 33,000 shares of the company’s stock, valued at approximately $534,000.

Several other hedge funds also recently modified their holdings of the stock. Pictet Asset Management Holding SA bought a new position in Erasca during the first quarter worth $3,145,000. Invesco Ltd. increased its stake in Erasca by 16.9% in the fourth quarter. Invesco Ltd. now owns 329,795 shares of the company’s stock valued at $1,227,000 after purchasing an additional 47,770 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Erasca during the fourth quarter valued at about $112,000. XTX Topco Ltd acquired a new position in shares of Erasca during the fourth quarter valued at about $40,000. Finally, Ikarian Capital LLC bought a new position in shares of Erasca during the 4th quarter worth about $2,736,000. Institutional investors own 67.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ERAS shares. Wall Street Zen downgraded Erasca from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. increased their price target on Erasca from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Piper Sandler raised their price objective on Erasca from $11.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Guggenheim boosted their price objective on Erasca from $12.00 to $20.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, Mizuho lowered their target price on Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.11.

Erasca Price Performance

ERAS opened at $18.53 on Friday. Erasca, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $24.28. The firm has a market capitalization of $5.76 billion, a PE ratio of -19.92 and a beta of 0.66. The company’s 50-day moving average is $13.65 and its 200 day moving average is $12.81.

Erasca (NASDAQ:ERAS) last announced its quarterly 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). As a group, analysts expect that Erasca, Inc. will post -0.55 EPS for the current year.

Key Stories Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: There were no clear company-specific positive catalysts in the latest news flow, which means investor attention is focused almost entirely on the litigation headlines.
• Neutral Sentiment: Short-interest data released today showed zero reported short interest, so it does not add a meaningful new signal for the stock. Article: Rosen, Recognized Investor Counsel, Encourages Erasca, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – ERAS
• Neutral Sentiment: Multiple firms, including Rosen, Robbins LLP, the Schall Law Firm, the Gross Law Firm, and others, issued nearly identical reminders about the pending securities class action and the deadline to seek lead-plaintiff status. Article: Erasca (ERAS) Faces Securities Class Action After Stock Declines 48% on Drug Safety and IP Concerns– HBSS
• Negative Sentiment: The biggest overhang is the allegation that Erasca faced a severe stock drop after Revolution Medicines accused it of patent infringement related to ERAS-0015 and after reports that a patient died about one month after receiving the drug, intensifying legal and safety concerns. Article: Erasca (ERAS) Faces Securities Class Action After Stock Declines 48% on Drug Safety and IP Concerns– HBSS
• Negative Sentiment: The class-action lawsuit and related reminders suggest ongoing legal risk, potential damages, and continued uncertainty for shareholders who bought between January 14, 2025 and April 26, 2026. Article: Erasca, Inc. (ERAS) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit

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.