Erasca, Inc. (NASDAQ:ERAS) Given Average Rating of “Hold” by Analysts

Erasca, Inc. (NASDAQ:ERAS) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $3.75.

Several research analysts have recently weighed in on the company. Morgan Stanley reiterated an “equal weight” rating and set a $2.00 price target (down previously from $4.00) on shares of Erasca in a research note on Monday, August 18th. Stifel Nicolaus assumed coverage on Erasca in a research note on Wednesday, October 15th. They issued a “buy” rating and a $4.00 target price for the company. Bank of America restated an “underperform” rating and issued a $1.00 target price (down previously from $4.00) on shares of Erasca in a research note on Wednesday, September 3rd. Wall Street Zen upgraded Erasca from a “sell” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Erasca in a research note on Wednesday, October 8th.

Erasca Stock Performance

ERAS stock opened at $2.38 on Friday. The company has a market capitalization of $675.13 million, a price-to-earnings ratio of -5.29 and a beta of 1.18. Erasca has a fifty-two week low of $1.01 and a fifty-two week high of $3.31. The stock has a fifty day moving average of $1.92 and a 200-day moving average of $1.58.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). Equities analysts predict that Erasca will post -0.73 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its stake in Erasca by 58.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after purchasing an additional 7,923 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Erasca during the 2nd quarter valued at about $29,000. SG Americas Securities LLC bought a new stake in shares of Erasca during the 3rd quarter valued at about $32,000. Crowley Wealth Management Inc. bought a new stake in shares of Erasca during the 3rd quarter valued at about $33,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Erasca by 180.8% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,177 shares of the company’s stock valued at $37,000 after acquiring an additional 18,788 shares during the last quarter. Institutional investors own 67.78% of the company’s stock.

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.