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
(
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.
Further Reading
Before you consider Erasca, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Erasca wasn't on the list.
While Erasca currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
