Erasca, Inc. $ERAS Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its holdings in shares of Erasca, Inc. (NASDAQ:ERAS) by 10.1% in the second quarter, Holdings Channel reports. The firm owned 655,298 shares of the company’s stock after acquiring an additional 59,919 shares during the period. Wellington Management Group LLP’s holdings in Erasca were worth $12,005,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in Erasca by 58.0% in 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 purchased a new stake in shares of Erasca in the second quarter worth about $29,000. Russell Investments Group Ltd. acquired a new stake in shares of Erasca in the third quarter valued at about $31,000. Allworth Financial LP acquired a new stake in shares of Erasca in the second quarter valued at about $34,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Erasca during the 4th quarter valued at about $38,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Guggenheim boosted their price target on Erasca from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Mizuho dropped their price objective on shares of Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. HSBC set a $20.00 target price on shares of Erasca in a research report on Tuesday, July 14th. Morgan Stanley lifted their target price on Erasca from $12.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Finally, Bank of America increased their price target on Erasca from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Erasca Stock Performance

NASDAQ:ERAS opened at $16.19 on Tuesday. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of -17.04 and a beta of 0.64. Erasca, Inc. has a one year low of $1.47 and a one year high of $24.28. The stock has a 50-day simple moving average of $18.30 and a 200 day simple moving average of $15.76.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). On average, equities research analysts forecast that Erasca, Inc. will post -0.49 EPS for the current fiscal year.

Erasca Company Profile

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.