Erasca (NASDAQ:ERAS) Price Target Raised to $11.00

Erasca (NASDAQ:ERAS) had its price target upped by HC Wainwright from $6.00 to $11.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Erasca’s FY2027 earnings at ($0.40) EPS, FY2028 earnings at ($0.27) EPS, FY2029 earnings at ($0.09) EPS and FY2030 earnings at ($0.02) EPS.

Several other brokerages have also recently commented on ERAS. Piper Sandler began coverage on shares of Erasca in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $5.00 price target for the company. Mizuho raised 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. Guggenheim raised their price objective on shares of Erasca from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Erasca from a “sell” rating to a “hold” rating in a report on Sunday, September 21st. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.44.

Erasca Trading Up 15.0%

Shares of ERAS opened at $9.56 on Tuesday. The firm has a 50-day moving average price of $3.73 and a 200 day moving average price of $2.47. Erasca has a 12-month low of $1.01 and a 12-month high of $9.72. The firm has a market capitalization of $2.71 billion, a P/E ratio of -21.24 and a beta of 1.15.

Erasca (NASDAQ:ERAS) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Equities research analysts predict that Erasca will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Erasca

In other Erasca news, General Counsel Ebun Garner sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total transaction of $670,800.00. Following the transaction, the general counsel owned 25,076 shares of the company’s stock, valued at $140,174.84. The trade was a 82.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 14.40% of the company’s stock.

Institutional Investors Weigh In On Erasca

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Erasca during the third quarter worth $31,000. SG Americas Securities LLC bought a new position in shares of Erasca in the 3rd quarter worth about $32,000. Crowley Wealth Management Inc. acquired a new position in shares of Erasca in the 3rd quarter valued at about $33,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Erasca during the 4th quarter valued at about $56,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in Erasca during the third quarter worth approximately $40,000. 67.78% of the stock is currently owned by institutional investors.

Erasca Company Profile

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.