Erasca (NASDAQ:ERAS – Get Free Report) had its price target lifted by equities research analysts at The Goldman Sachs Group from $3.00 to $3.50 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 29.63% from the stock’s current price.
Separately, HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Erasca in a research note on Friday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.10.
View Our Latest Research Report on Erasca
Erasca Stock Up 4.7 %
Erasca (NASDAQ:ERAS – Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.12). On average, equities analysts predict that Erasca will post -0.91 EPS for the current fiscal year.
Institutional Investors Weigh In On Erasca
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Creative Planning raised its position in Erasca by 23.0% during the third quarter. Creative Planning now owns 20,014 shares of the company’s stock valued at $55,000 after purchasing an additional 3,737 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Erasca by 82.2% in the second quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock worth $51,000 after buying an additional 9,689 shares during the period. Edmonds Duncan Registered Investment Advisors LLC raised its holdings in shares of Erasca by 41.2% in the second quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock worth $81,000 after buying an additional 10,000 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Erasca by 27.0% in the second quarter. The Manufacturers Life Insurance Company now owns 47,861 shares of the company’s stock worth $113,000 after buying an additional 10,164 shares during the period. Finally, Federated Hermes Inc. purchased a new stake in shares of Erasca in the second quarter worth approximately $31,000. 67.78% of the stock is currently owned by hedge funds and other institutional investors.
Erasca Company Profile
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.
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