Erasca (NASDAQ:ERAS) Announces Earnings Results

Erasca (NASDAQ:ERAS) issued its quarterly earnings results on Thursday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01, Zacks reports.

Erasca Stock Performance

Shares of Erasca stock remained flat at $1.48 during midday trading on Thursday. The company had a trading volume of 1,919,568 shares, compared to its average volume of 1,688,310. The firm has a 50 day simple moving average of $1.67 and a 200 day simple moving average of $2.38. The company has a market capitalization of $418.44 million, a price-to-earnings ratio of -1.78 and a beta of 1.22. Erasca has a 1-year low of $1.23 and a 1-year high of $3.45.

Analyst Upgrades and Downgrades

ERAS has been the subject of a number of research reports. Bank of America upgraded Erasca from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $4.00 target price on shares of Erasca in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $4.90.

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.