Erasca (NASDAQ:ERAS) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Erasca (NASDAQ:ERAS) in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a $6.00 target price on the stock.

Separately, The Goldman Sachs Group increased their price target on shares of Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.10.

Erasca Stock Performance

ERAS opened at $2.85 on Wednesday. The stock’s fifty day moving average is $2.79 and its 200-day moving average is $2.61. Erasca has a one year low of $1.51 and a one year high of $3.45. The company has a market capitalization of $805.13 million, a PE ratio of -3.43 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. On average, equities research analysts forecast that Erasca will post -0.9 EPS for the current fiscal year.

Institutional Trading of Erasca

Institutional investors and hedge funds have recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new position in Erasca during the 1st quarter worth $216,000. Vanguard Group Inc. boosted its stake in Erasca by 14.4% during the 1st quarter. Vanguard Group Inc. now owns 4,338,108 shares of the company’s stock valued at $8,937,000 after purchasing an additional 545,765 shares during the period. Acadian Asset Management LLC grew its holdings in Erasca by 286.5% in the 1st quarter. Acadian Asset Management LLC now owns 346,953 shares of the company’s stock valued at $713,000 after buying an additional 257,174 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC increased its position in Erasca by 41.2% in the 2nd 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. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Erasca by 50.6% during the second quarter. Bank of New York Mellon Corp now owns 392,490 shares of the company’s stock worth $926,000 after buying an additional 131,829 shares during the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

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.