Erasca (NASDAQ:ERAS) Trading 8.5% Higher – Time to Buy?

Erasca, Inc. (NASDAQ:ERAS) rose 8.5% during trading on Wednesday . The company traded as high as $14.44 and last traded at $14.5160. Approximately 710,184 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 6,629,932 shares. The stock had previously closed at $13.38.

More Erasca News

Here are the key news stories impacting Erasca this week:

• Neutral Sentiment: Multiple law firms, including Levi & Korsinsky, Rosen, Robbins Geller, Faruqi & Faruqi, and others, have notified investors about an already-filed class action and upcoming lead-plaintiff deadline of August 10, 2026. Article Title
• Neutral Sentiment: The lawsuit allegations center on claims that Erasca overstated or improperly compared its drug candidate to Revolution Medicines’ RMC-6236, and that investors were harmed when patent and trade-secret risks became clearer. Article Title
• Negative Sentiment: One report says Erasca stock fell sharply after news that Revolution Medicines accused the company of patent infringement tied to its pan-RAS program, and that a patient death was also reported in connection with ERAS-0015, raising additional safety concerns. Article Title

Analyst Ratings Changes

ERAS has been the topic of a number of research reports. Bank of America raised Erasca from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $9.00 to $16.00 in a report on Thursday, June 4th. Stifel Nicolaus upped their price objective on Erasca from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, April 27th. Mizuho decreased their price objective on Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Wolfe Research set a $16.00 price objective on Erasca in a report on Thursday, June 4th. Finally, HC Wainwright upped their price objective on Erasca from $15.00 to $20.00 and gave the company a “buy” rating in a report on Friday, March 13th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.11.

Erasca Trading Up 9.0%

The business has a 50-day moving average price of $14.06 and a two-hundred day moving average price of $11.17. The stock has a market capitalization of $4.53 billion, a P/E ratio of -15.65 and a beta of 0.73.

Erasca (NASDAQ:ERAS) last released its earnings results on Monday, May 11th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.48). On average, sell-side analysts forecast that Erasca, Inc. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Erasca

In other news, insider Ebun Garner sold 80,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total transaction of $1,312,000.00. Following the completion of the sale, the insider directly owned 25,076 shares in the company, valued at approximately $411,246.40. This represents a 76.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 14.20% of the company’s stock.

Institutional Trading of Erasca

A number of institutional investors have recently modified their holdings of ERAS. AQR Capital Management LLC lifted its position in shares of Erasca by 594.8% during the 1st quarter. AQR Capital Management LLC now owns 396,202 shares of the company’s stock valued at $543,000 after acquiring an additional 339,177 shares during the period. Geode Capital Management LLC lifted its position in shares of Erasca by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company’s stock valued at $6,143,000 after acquiring an additional 77,790 shares during the period. Creative Planning lifted its position in shares of Erasca by 423.3% during the 2nd quarter. Creative Planning now owns 244,332 shares of the company’s stock worth $310,000 after buying an additional 197,637 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Erasca by 39.1% during the 2nd quarter. New York State Common Retirement Fund now owns 37,360 shares of the company’s stock worth $47,000 after buying an additional 10,501 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Erasca by 51.6% during the 2nd quarter. Invesco Ltd. now owns 172,226 shares of the company’s stock worth $219,000 after buying an additional 58,643 shares during the last quarter. 67.78% of the stock is currently owned by 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.