FY2029 Earnings Forecast for Erasca Issued By HC Wainwright

Erasca, Inc. (NASDAQ:ERAS - Free Report) - Equities researchers at HC Wainwright issued their FY2029 earnings per share estimates for Erasca in a report released on Friday, March 21st. HC Wainwright analyst A. Maldonado anticipates that the company will earn ($0.06) per share for the year. HC Wainwright has a "Buy" rating and a $6.00 price objective on the stock. The consensus estimate for Erasca's current full-year earnings is ($0.73) per share.

Erasca (NASDAQ:ERAS - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. During the same period last year, the business posted ($0.20) earnings per share.

Several other brokerages have also recently weighed in on ERAS. Bank of America raised shares of Erasca from a "neutral" rating to a "buy" rating and set a $5.00 price objective for the company in a report on Tuesday, January 7th. Morgan Stanley reiterated an "overweight" rating and set a $4.00 price target on shares of Erasca in a research report on Friday, March 7th. The Goldman Sachs Group reduced their price target on Erasca from $3.50 to $3.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Raymond James assumed coverage on Erasca in a research note on Wednesday. They issued an "outperform" rating and a $5.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Erasca currently has a consensus rating of "Buy" and an average price target of $4.83.

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Erasca Stock Up 4.7 %

Shares of ERAS stock traded up $0.07 during mid-day trading on Monday, reaching $1.55. The stock had a trading volume of 1,304,085 shares, compared to its average volume of 1,479,889. The firm has a market cap of $439.06 million, a PE ratio of -1.87 and a beta of 1.22. The firm's 50 day simple moving average is $1.60 and its 200 day simple moving average is $2.33. Erasca has a one year low of $1.23 and a one year high of $3.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERAS. AXQ Capital LP bought a new position in Erasca during the fourth quarter valued at about $27,000. Mackenzie Financial Corp bought a new stake in shares of Erasca during the 4th quarter worth $28,000. Neuberger Berman Group LLC bought a new position in Erasca during the fourth quarter valued at approximately $33,000. Brevan Howard Capital Management LP purchased a new position in shares of Erasca in the fourth quarter worth about $41,000. Finally, Cibc World Markets Corp purchased a new position in Erasca in the 4th quarter worth approximately $43,000. Institutional investors own 67.78% of the company's stock.

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.