Erasca (NASDAQ:ERAS) Posts Earnings Results, Beats Estimates By $0.06 EPS

Erasca (NASDAQ:ERAS) announced its quarterly earnings data on Tuesday. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06, Zacks reports.

Erasca Price Performance

NASDAQ ERAS traded down $0.06 during trading on Wednesday, reaching $2.93. The company’s stock had a trading volume of 485,513 shares, compared to its average volume of 1,630,810. The business has a 50-day moving average price of $2.79 and a 200-day moving average price of $2.61. Erasca has a 1-year low of $1.51 and a 1-year high of $3.45.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price 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. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Erasca in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.