Erasca, Inc. (NASDAQ:ERAS) Given Consensus Rating of "Moderate Buy" by Brokerages

Erasca, Inc. (NASDAQ:ERAS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $6.08.

Several analysts have recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $6.00 price objective on shares of Erasca in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their price target on shares of Erasca from $3.00 to $3.50 and gave the company a "buy" rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group began coverage on Erasca in a report on Monday. They set a "buy" rating and a $6.00 price objective on the stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ERAS. Vanguard Group Inc. increased its stake in Erasca by 14.4% in the 1st quarter. Vanguard Group Inc. now owns 4,338,108 shares of the company's stock valued at $8,937,000 after buying an additional 545,765 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Erasca by 286.5% in the first quarter. Acadian Asset Management LLC now owns 346,953 shares of the company's stock valued at $713,000 after acquiring an additional 257,174 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Erasca by 27.0% during the second quarter. The Manufacturers Life Insurance Company now owns 47,861 shares of the company's stock worth $113,000 after purchasing an additional 10,164 shares in the last quarter. Sofinnova Investments Inc. acquired a new stake in Erasca in the second quarter valued at about $4,011,000. Finally, Sei Investments Co. purchased a new stake in Erasca in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 67.78% of the company's stock.

Erasca Trading Up 2.2 %

NASDAQ:ERAS traded up $0.06 during trading hours on Monday, hitting $2.73. The company's stock had a trading volume of 1,416,381 shares, compared to its average volume of 1,633,074. Erasca has a 52-week low of $1.51 and a 52-week high of $3.45. The stock has a market capitalization of $771.85 million, a P/E ratio of -3.25 and a beta of 1.16. The stock has a fifty day moving average of $2.78 and a 200-day moving average of $2.62.

Erasca (NASDAQ:ERAS - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. On average, sell-side analysts forecast that Erasca will post -0.82 earnings per share for the current year.

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.