Erasca (NASDAQ:ERAS) Price Target Cut to $3.00 by Analysts at The Goldman Sachs Group

Erasca (NASDAQ:ERAS) had its price objective cut by The Goldman Sachs Group from $4.00 to $3.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Separately, HC Wainwright upped their price target on Erasca from $5.00 to $6.00 and gave the company a buy rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Erasca presently has a consensus rating of Moderate Buy and an average target price of $6.00.

Erasca Trading Up 3.3 %

ERAS opened at $2.80 on Wednesday. The stock has a market cap of $485.41 million, a PE ratio of -3.33 and a beta of 1.17. Erasca has a 1 year low of $1.51 and a 1 year high of $3.45. The stock’s 50 day simple moving average is $2.59 and its 200-day simple moving average is $2.28.

Erasca (NASDAQ:ERAS) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.12). Equities analysts forecast that Erasca will post -0.77 earnings per share for the current fiscal year.

Insider Transactions at Erasca

In other Erasca news, Director Alexander W. Casdin bought 80,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were bought at an average price of $2.27 per share, for a total transaction of $181,600.00. Following the completion of the acquisition, the director now owns 573,974 shares of the company’s stock, valued at $1,302,920.98. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 21.50% of the company’s stock.

Institutional Trading of Erasca

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. bought a new stake in shares of Erasca during the second quarter worth $31,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Erasca during the fourth quarter valued at $35,000. Sei Investments Co. acquired a new position in shares of Erasca during the second quarter valued at $39,000. RPO LLC acquired a new position in shares of Erasca during the fourth quarter valued at $44,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Erasca by 82.2% during the second quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock valued at $51,000 after acquiring an additional 9,689 shares during the period. Institutional investors own 67.78% of the company’s stock.

About Erasca

Erasca, Inc, a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company's lead product is naporafenib which is in phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.