Erasca’s (ERAS) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Erasca (NASDAQ:ERAS) in a research report report published on Wednesday,Benzinga reports. They currently have a $6.00 price target on the stock.

Separately, The Goldman Sachs Group upped their price objective on Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Friday, October 25th. One 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.10.

Erasca Trading Down 5.0 %

NASDAQ ERAS opened at $2.67 on Wednesday. The stock has a fifty day simple moving average of $2.78 and a 200-day simple moving average of $2.62. Erasca has a twelve month low of $1.51 and a twelve month high of $3.45. The stock has a market cap of $754.88 million, a PE ratio of -3.22 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.06. Research analysts predict that Erasca will post -0.9 EPS for the current year.

Institutional Investors Weigh In On Erasca

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. purchased a new position in shares of Erasca during the second quarter valued at approximately $31,000. Sei Investments Co. purchased a new position in shares of Erasca during the 2nd quarter worth $39,000. Victory Capital Management Inc. boosted its holdings 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 worth $51,000 after purchasing an additional 9,689 shares during the last quarter. Creative Planning boosted its holdings in shares of Erasca by 23.0% during the third quarter. Creative Planning now owns 20,014 shares of the company’s stock worth $55,000 after purchasing an additional 3,737 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC grew its position 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 valued at $81,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds 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.