Erasca (NASDAQ:ERAS) Releases Earnings Results, Beats Expectations By $0.06 EPS

Erasca (NASDAQ:ERAS) announced its earnings results on Tuesday. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06, Zacks reports.

Erasca Stock Performance

NASDAQ ERAS opened at $2.85 on Thursday. Erasca has a one year low of $1.51 and a one year high of $3.45. The company has a 50-day simple moving average of $2.79 and a 200-day simple moving average of $2.61. The firm has a market capitalization of $805.13 million, a PE ratio of -3.43 and a beta of 1.16.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ERAS shares. The Goldman Sachs Group lifted their price objective on shares of Erasca from $3.00 to $3.50 and gave the company a “buy” rating in a research note on Friday, October 25th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Erasca in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.10.

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.