Erasca, Inc. (NASDAQ:ERAS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Erasca, Inc. (NASDAQ:ERAS) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $9.2222.

Several equities research analysts have issued reports on the stock. Stifel Nicolaus set a $10.00 price target on shares of Erasca in a report on Monday, January 12th. Guggenheim reissued a “buy” rating and issued a $12.00 target price on shares of Erasca in a research note on Tuesday, January 27th. Mizuho began coverage on shares of Erasca in a research note on Tuesday, January 27th. They set an “outperform” rating and a $16.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a report on Thursday, January 22nd. Finally, HC Wainwright increased their target price on Erasca from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 26th.

Insider Buying and Selling at Erasca

In related news, General Counsel Ebun Garner sold 120,000 shares of the 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 completion of the sale, the general counsel owned 25,076 shares in the company, valued at $140,174.84. This trade represents a 82.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 14.40% of the company’s stock.

Institutional Trading of Erasca

Several large investors have recently added to or reduced their stakes in ERAS. Affinity Asset Advisors LLC lifted its position 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 buying an additional 744,268 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Erasca during the second quarter worth approximately $87,000. Frazier Life Sciences Management L.P. grew its stake 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 during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Erasca by 130.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,362 shares of the company’s stock valued at $46,000 after purchasing an additional 20,558 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in shares of Erasca by 180.8% in 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. 67.78% of the stock is owned by institutional investors.

Erasca Trading Down 2.1%

Shares of NASDAQ:ERAS opened at $12.39 on Friday. The firm has a market capitalization of $3.84 billion, a PE ratio of -27.53 and a beta of 1.21. Erasca has a 1-year low of $1.01 and a 1-year high of $13.28. The business’s 50 day moving average is $7.79 and its 200-day moving average is $4.13.

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.