Piper Sandler Issues Positive Forecast for Erasca (NASDAQ:ERAS) Stock Price

Erasca (NASDAQ:ERAS) had its price objective increased by Piper Sandler from $11.00 to $18.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on ERAS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research note on Thursday, January 22nd. Morgan Stanley set a $10.00 price objective on Erasca in a research note on Monday, January 26th. Mizuho boosted their price objective on Erasca from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Friday. Guggenheim reaffirmed a “buy” rating and set a $12.00 target price on shares of Erasca in a research report on Tuesday, January 27th. Finally, Citigroup reiterated a “buy” rating on shares of Erasca in a report on Friday. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.00.

Erasca Trading Down 7.0%

ERAS opened at $13.62 on Friday. The company has a fifty day moving average price of $11.25 and a two-hundred day moving average price of $5.56. Erasca has a 1-year low of $1.01 and a 1-year high of $16.41. The company has a market cap of $4.22 billion, a P/E ratio of -30.95 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. On average, research analysts forecast that Erasca will post -0.73 EPS for the current fiscal year.

Insider Transactions at Erasca

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

Institutional Investors Weigh In On Erasca

Institutional investors have recently bought and sold shares of the stock. Affinity Asset Advisors LLC boosted its holdings in Erasca by 22.3% during the 2nd quarter. Affinity Asset Advisors LLC now owns 4,085,787 shares of the company’s stock worth $5,189,000 after acquiring an additional 744,268 shares during the last quarter. Savant Capital LLC purchased a new stake in shares of Erasca in the second quarter valued at about $87,000. Frazier Life Sciences Management L.P. lifted its position in shares of Erasca by 0.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 22,729,436 shares of the company’s stock valued at $28,866,000 after purchasing an additional 153,585 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its position in shares of Erasca by 180.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 29,177 shares of the company’s stock valued at $37,000 after purchasing an additional 18,788 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in Erasca during the second quarter worth about $45,000. Institutional investors own 67.78% of the company’s stock.

Erasca News Summary

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Piper Sandler raised its price target from $11 to $18 and moved to an “overweight” rating, signalling ~32% upside from the current price and increasing institutional buy-side interest. Article Title
• Positive Sentiment: H.C. Wainwright raised its price target from $15 to $20 and reiterated a “buy” view, implying ~47% upside and adding momentum from another sell-side upgrade. Article Title Street Insider
• Positive Sentiment: Mizuho raised its price target from $16 to $19 and maintained an “outperform” rating, another analyst signalling material upside (~39%). Article Title
• Positive Sentiment: Erasca reported quarterly EPS of ($0.10), beating the consensus of ($0.11) by $0.01 — a modest beat that removes a near-term earnings miss concern. Press Release
• Positive Sentiment: Company update: encouraging early clinical activity in ERAS-0015 dose escalation with responses across multiple RAS-mutant tumors and favorable safety/PK — this supports the therapeutic narrative and long-term upside potential. GlobeNewswire
• Neutral Sentiment: Routine preview coverage noted Erasca was projected to post quarterly earnings — background procedural reporting with limited market-moving detail. American Banking News

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.