Erasca (NASDAQ:ERAS) Research Coverage Started at Mizuho

Mizuho started coverage on shares of Erasca (NASDAQ:ERAS) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $16.00 price objective on the stock.

Other analysts have also issued research reports about the company. Guggenheim restated a “buy” rating and issued a $12.00 price objective on shares of Erasca in a research note on Tuesday. HC Wainwright increased their price target on Erasca from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus set a $10.00 price target on Erasca in a report on Monday, January 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Thursday, January 22nd. Finally, Morgan Stanley set a $10.00 price objective on shares of Erasca in a research report on Monday. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.22.

Erasca Price Performance

Shares of ERAS stock opened at $10.31 on Tuesday. The company has a fifty day moving average price of $5.20 and a two-hundred day moving average price of $3.07. Erasca has a one year low of $1.01 and a one year high of $10.71. The stock has a market cap of $3.19 billion, a P/E ratio of -22.91 and a beta of 1.15.

Erasca (NASDAQ:ERAS) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). As a group, equities research analysts anticipate that Erasca will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at Erasca

In other news, General Counsel Ebun Garner sold 120,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were 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 owned 25,076 shares of the company’s stock, valued at approximately $140,174.84. The trade was a 82.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 14.40% of the company’s stock.

Institutional Trading of Erasca

Several hedge funds and other institutional investors have recently bought and sold shares of ERAS. Frazier Life Sciences Management L.P. grew its position in shares of Erasca by 0.7% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 22,729,436 shares of the company’s stock worth $28,866,000 after purchasing an additional 153,585 shares in the last quarter. VR Adviser LLC boosted its stake in shares of Erasca by 10.1% in the second quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock valued at $22,678,000 after buying an additional 1,640,867 shares during the period. Paradigm Biocapital Advisors LP grew its position in Erasca by 13.9% during the third quarter. Paradigm Biocapital Advisors LP now owns 13,560,017 shares of the company’s stock worth $29,561,000 after buying an additional 1,652,835 shares in the last quarter. Vanguard Group Inc. increased its stake in Erasca by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,811,832 shares of the company’s stock worth $27,930,000 after acquiring an additional 116,235 shares during the period. Finally, Vivo Capital LLC raised its holdings in Erasca by 37.2% in the 3rd quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock valued at $20,216,000 after acquiring an additional 2,516,672 shares in the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

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.