Erasca, Inc. (NASDAQ:ERAS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Erasca, Inc. (NASDAQ:ERAS) have earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $9.2222.

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

Insider Buying and Selling

In other Erasca news, General Counsel Ebun Garner sold 120,000 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total value of $670,800.00. Following the transaction, the general counsel owned 25,076 shares of the company’s stock, valued at approximately $140,174.84. This represents a 82.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 14.40% of the company’s stock.

Institutional Trading of Erasca

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its holdings in Erasca by 11.3% during the 4th quarter. Neuberger Berman Group LLC now owns 12,358 shares of the company’s stock worth $46,000 after purchasing an additional 1,253 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Erasca by 25.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,787 shares of the company’s stock valued at $51,000 after purchasing an additional 2,820 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Erasca by 11.1% during the fourth quarter. ProShare Advisors LLC now owns 44,216 shares of the company’s stock worth $164,000 after buying an additional 4,430 shares during the period. AQR Capital Management LLC grew its holdings in shares of Erasca by 0.8% during the fourth quarter. AQR Capital Management LLC now owns 669,876 shares of the company’s stock worth $2,492,000 after buying an additional 5,537 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Erasca by 13.6% during the second quarter. Captrust Financial Advisors now owns 54,111 shares of the company’s stock worth $69,000 after buying an additional 6,486 shares in the last quarter. 67.78% of the stock is owned by institutional investors.

Erasca Stock Down 2.1%

ERAS stock opened at $12.39 on Friday. Erasca has a twelve month low of $1.01 and a twelve month high of $13.28. The company has a market cap of $3.84 billion, a P/E ratio of -27.53 and a beta of 1.21. The business has a fifty day moving average of $7.79 and a 200-day moving average of $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.