Erasca (NASDAQ:ERAS) Given New $19.00 Price Target at Mizuho

Erasca (NASDAQ:ERAS) had its target price hoisted by analysts at Mizuho from $16.00 to $19.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 30.10% from the stock’s current price.

A number of other brokerages have also recently issued reports on ERAS. HC Wainwright upped their price target on shares of Erasca from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup restated a “buy” rating on shares of Erasca in a research note on Friday. Piper Sandler upped their target price on shares of Erasca from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Thursday, January 22nd. Finally, Guggenheim reissued a “buy” rating and set a $12.00 price target on shares of Erasca in a research report on Tuesday, January 27th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.22.

Erasca Trading Down 0.3%

NASDAQ:ERAS traded down $0.05 during trading hours on Friday, reaching $14.60. 1,419,737 shares of the company traded hands, compared to its average volume of 6,478,506. The business’s 50-day moving average price is $11.05 and its two-hundred day moving average price is $5.48. Erasca has a 1 year low of $1.01 and a 1 year high of $16.41. The stock has a market capitalization of $4.52 billion, a P/E ratio of -32.45 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last released its earnings results on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. As a group, equities analysts anticipate that Erasca will post -0.73 EPS for the current year.

Insider Activity

In other Erasca news, insider Shannon Morris sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.04, for a total value of $300,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ebun Garner sold 120,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $5.59, for a total transaction of $670,800.00. Following the transaction, the general counsel owned 25,076 shares in the company, valued at $140,174.84. This represents a 82.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in Erasca by 58.0% during the second quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock valued at $27,000 after purchasing an additional 7,923 shares during the period. EP Wealth Advisors LLC bought a new stake in Erasca in the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. purchased a new stake in Erasca during the 3rd quarter valued at $31,000. SG Americas Securities LLC purchased a new stake in Erasca during the 3rd quarter valued at $32,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of Erasca during the 3rd quarter valued at $33,000. 67.78% of the stock is owned by hedge funds and other institutional investors.

About Erasca

Erasca, Inc is a clinical‐stage biopharmaceutical company dedicated to the discovery and development of precision medicines for patients with cancer. The company focuses on small molecule therapeutics that target critical signaling pathways involved in tumor growth and survival, with a primary emphasis on inhibitors of the MAPK pathway. Erasca’s approach is designed to deliver oral, targeted therapies that address both oncogene‐driven and immuno‐oncology indications, aiming to improve outcomes for patients with unmet medical needs.

Erasca’s pipeline comprises multiple development candidates, including small molecule inhibitors engineered to disrupt key nodes in cancer cell signaling.