Erasca (NASDAQ:ERAS) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Erasca (NASDAQ:ERAS – Free Report) from a sell rating to a hold rating in a research report released on Saturday.

A number of other research analysts also recently weighed in on the stock. Guggenheim set a $3.00 target price on shares of Erasca and gave the company a “buy” rating in a research report on Wednesday, May 14th. Morgan Stanley reissued an “equal weight” rating and set a $2.00 target price (down from $4.00) on shares of Erasca in a research report on Monday, August 18th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.29.

Read Our Latest Stock Report on ERAS

Erasca Stock Performance

Shares of ERAS stock opened at $1.57 on Friday. Erasca has a 52-week low of $1.01 and a 52-week high of $3.31. The company has a 50-day simple moving average of $1.50 and a two-hundred day simple moving average of $1.42. The company has a market capitalization of $445.36 million, a price-to-earnings ratio of -3.49 and a beta of 1.08.

Erasca (NASDAQ:ERAS – Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12). On average, sell-side analysts forecast that Erasca will post -0.73 EPS for the current fiscal year.

Institutional Trading of Erasca

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in Erasca by 58.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after purchasing an additional 7,923 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Erasca in the 4th quarter worth approximately $28,000. EP Wealth Advisors LLC purchased a new stake in Erasca in the 2nd quarter worth approximately $29,000. Dynamic Technology Lab Private Ltd lifted its stake in Erasca by 180.8% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,177 shares of the company’s stock worth $37,000 after purchasing an additional 18,788 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Erasca in the 1st quarter worth approximately $39,000. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

About Erasca

(Get Free Report)

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.

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