Erasca’s (ERAS) “Buy” Rating Reaffirmed at HC Wainwright

Erasca (NASDAQ:ERAS)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $8.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 272.09% from the company’s current price.

Several other research analysts have also commented on ERAS. The Goldman Sachs Group raised their price objective on Erasca from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Capital One Financial reaffirmed an “overweight” rating and set a $8.00 price target on shares of Erasca in a report on Monday, March 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.83.

Erasca Stock Performance

Shares of ERAS opened at $2.15 on Thursday. The stock has a market capitalization of $372.72 million, a P/E ratio of -2.59 and a beta of 1.06. The company’s fifty day moving average is $2.11 and its two-hundred day moving average is $2.04. Erasca has a 1 year low of $1.51 and a 1 year high of $3.38.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. Sell-side analysts predict that Erasca will post -0.92 EPS for the current year.

Institutional Trading of Erasca

Several hedge funds have recently added to or reduced their stakes in ERAS. Aaron Wealth Advisors LLC acquired a new stake in Erasca in the fourth quarter worth approximately $28,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Erasca during the 4th quarter valued at $35,000. China Universal Asset Management Co. Ltd. lifted its stake in Erasca by 350.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,472 shares of the company’s stock valued at $37,000 after acquiring an additional 13,597 shares during the last quarter. RPO LLC acquired a new position in Erasca during the fourth quarter valued at approximately $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Erasca by 207.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,421 shares of the company’s stock valued at $68,000 after acquiring an additional 23,228 shares during the period. Institutional investors 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.