169,978 Shares in Erasca, Inc. (NASDAQ:ERAS) Acquired by IPG Investment Advisors LLC

IPG Investment Advisors LLC purchased a new stake in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 169,978 shares of the company's stock, valued at approximately $427,000. IPG Investment Advisors LLC owned approximately 0.06% of Erasca as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. AXQ Capital LP purchased a new stake in Erasca during the fourth quarter valued at about $27,000. Cibc World Markets Corp purchased a new position in Erasca in the 4th quarter worth approximately $43,000. New York State Common Retirement Fund lifted its position in Erasca by 42.4% in the fourth quarter. New York State Common Retirement Fund now owns 26,859 shares of the company's stock valued at $67,000 after purchasing an additional 8,000 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Erasca during the fourth quarter valued at approximately $69,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Erasca by 29.1% in the fourth quarter. Teacher Retirement System of Texas now owns 54,706 shares of the company's stock worth $137,000 after buying an additional 12,345 shares during the period. Institutional investors own 67.78% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ERAS. HC Wainwright restated a "buy" rating and issued a $6.00 price objective on shares of Erasca in a research report on Friday, March 21st. The Goldman Sachs Group decreased their price objective on shares of Erasca from $3.50 to $3.00 and set a "buy" rating for the company in a report on Friday, March 21st. Morgan Stanley restated an "overweight" rating and set a $4.00 price target on shares of Erasca in a research report on Friday, March 7th. Raymond James initiated coverage on Erasca in a report on Wednesday, March 26th. They issued an "outperform" rating and a $5.00 price objective for the company. Finally, Bank of America upgraded shares of Erasca from a "neutral" rating to a "buy" rating and set a $5.00 target price on the stock in a report on Tuesday, January 7th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $4.83.

Erasca Price Performance

Erasca stock remained flat at $1.26 during mid-day trading on Thursday. The company's stock had a trading volume of 1,117,351 shares, compared to its average volume of 1,771,668. Erasca, Inc. has a twelve month low of $1.04 and a twelve month high of $3.45. The company has a market capitalization of $356.92 million, a P/E ratio of -1.52 and a beta of 1.22. The business has a 50 day simple moving average of $1.55 and a 200 day simple moving average of $2.28.

Erasca (NASDAQ:ERAS - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. During the same period in the prior year, the firm earned ($0.20) earnings per share. Equities research analysts predict that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Erasca Profile

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.