Erasca (NASDAQ:ERAS - Get Free Report)'s stock had its "overweight" rating restated by investment analysts at Morgan Stanley in a research report issued on Friday,Benzinga reports. They presently have a $4.00 price target on the stock. Morgan Stanley's price target indicates a potential upside of 159.74% from the stock's current price.
Several other brokerages also recently issued reports on ERAS. Jefferies Financial Group started coverage on shares of Erasca in a report on Monday, November 18th. They set a "buy" rating and a $6.00 price target for the company. Bank of America upgraded shares of Erasca from a "neutral" rating to a "buy" rating and set a $5.00 target price for the company in a research note on Tuesday, January 7th. Finally, HC Wainwright restated a "buy" rating and set a $6.00 price target on shares of Erasca in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Erasca presently has an average rating of "Buy" and an average price target of $5.42.
Check Out Our Latest Analysis on ERAS
Erasca Stock Up 7.7 %
Erasca stock traded up $0.11 during mid-day trading on Friday, hitting $1.54. 1,631,042 shares of the company were exchanged, compared to its average volume of 1,678,325. Erasca has a 1-year low of $1.23 and a 1-year high of $3.45. The business has a fifty day moving average of $1.82 and a 200 day moving average of $2.44. The company has a market capitalization of $435.40 million, a PE ratio of -1.86 and a beta of 1.22.
Institutional Trading of Erasca
Hedge funds and other institutional investors have recently modified their holdings of the stock. AXQ Capital LP bought a new position in Erasca in the 4th quarter valued at $27,000. Mackenzie Financial Corp bought a new stake in shares of Erasca during the fourth quarter worth $28,000. Neuberger Berman Group LLC acquired a new position in shares of Erasca during the fourth quarter valued at $33,000. Brevan Howard Capital Management LP bought a new position in Erasca in the fourth quarter valued at about $41,000. Finally, Cibc World Markets Corp acquired a new stake in Erasca in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 67.78% of the company's stock.
About Erasca
(
Get Free Report)
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.
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