Erasca, Inc. (NASDAQ:ERAS - Get Free Report) has received a consensus recommendation of "Buy" from the five analysts that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $4.90.
A number of equities analysts have commented on the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $4.00 price target on shares of Erasca in a research note on Friday. HC Wainwright reaffirmed a "buy" rating and issued a $6.00 target price on shares of Erasca in a research note on Wednesday, November 13th. Jefferies Financial Group began coverage on shares of Erasca in a research report on Monday, November 18th. They set a "buy" rating and a $6.00 price target for the company. Finally, Bank of America upgraded shares of Erasca from a "neutral" rating to a "buy" rating and set a $5.00 price objective on the stock in a research report on Tuesday, January 7th.
Get Our Latest Stock Analysis on Erasca
Erasca Stock Up 3.1 %
Shares of ERAS traded up $0.05 during trading hours on Friday, hitting $1.48. The company had a trading volume of 676,822 shares, compared to its average volume of 1,670,053. Erasca has a 52-week low of $1.23 and a 52-week high of $3.45. The stock's 50 day moving average price is $1.84 and its 200 day moving average price is $2.45. The firm has a market cap of $417.02 million, a P/E ratio of -1.78 and a beta of 1.22.
Institutional Investors Weigh In On Erasca
Institutional investors and hedge funds have recently modified their holdings of the stock. AXQ Capital LP bought a new position in Erasca in the fourth quarter worth about $27,000. Mackenzie Financial Corp purchased a new stake in shares of Erasca in the 4th quarter worth about $28,000. Neuberger Berman Group LLC bought a new position in shares of Erasca during the fourth quarter valued at approximately $33,000. Brevan Howard Capital Management LP purchased a new stake in shares of Erasca in the 4th quarter worth approximately $41,000. Finally, Cibc World Markets Corp bought a new position in Erasca during the 4th quarter valued at approximately $43,000. 67.78% of the stock is owned by hedge funds and other institutional investors.
About Erasca
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Get Free ReportErasca, 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.
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