Brevan Howard Capital Management LP Takes Position in Erasca, Inc. (NASDAQ:ERAS)

Brevan Howard Capital Management LP acquired a new stake in Erasca, Inc. (NASDAQ:ERAS) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 16,158 shares of the company’s stock, valued at approximately $41,000.

Other large investors also recently modified their holdings of the company. AXQ Capital LP acquired a new position in shares of Erasca in the 4th quarter worth approximately $27,000. Neuberger Berman Group LLC acquired a new position in shares of Erasca in the 4th quarter worth approximately $33,000. Cibc World Markets Corp acquired a new position in shares of Erasca in the 4th quarter worth approximately $43,000. Tower Research Capital LLC TRC boosted its holdings in shares of Erasca by 244.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 23,323 shares of the company’s stock worth $59,000 after acquiring an additional 16,547 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Erasca in the 4th quarter worth approximately $61,000. 67.78% of the stock is currently owned by institutional investors.

Erasca Stock Performance

NASDAQ:ERAS opened at $1.33 on Wednesday. The stock’s fifty day moving average price is $1.35 and its two-hundred day moving average price is $1.98. Erasca, Inc. has a 52-week low of $1.01 and a 52-week high of $3.45. The company has a market cap of $376.77 million, a price-to-earnings ratio of -1.60 and a beta of 1.12.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. On average, equities analysts predict that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ERAS shares. Raymond James assumed coverage on Erasca in a report on Wednesday, March 26th. They issued an “outperform” rating and a $5.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Erasca in a report on Wednesday, April 30th. The Goldman Sachs Group reduced their price objective on Erasca from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $4.00 price objective on shares of Erasca in a report on Friday, March 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Erasca currently has a consensus rating of “Buy” and a consensus target price of $4.83.

About Erasca

Erasca, Inc, a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company’s lead product is naporafenib which is in phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.