Erasca (NASDAQ:ERAS) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

by · The Markets Daily

Erasca (NASDAQ:ERAS – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01, FiscalAI reports.

Erasca Trading Down 5.5%

NASDAQ ERAS traded down $0.85 during trading hours on Thursday, hitting $14.65. 6,983,323 shares of the company’s stock were exchanged, compared to its average volume of 6,596,018. The stock has a 50-day simple moving average of $10.83 and a 200 day simple moving average of $5.41. Erasca has a 1-year low of $1.01 and a 1-year high of $16.41. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of -32.56 and a beta of 1.16.

Insider Transactions at Erasca

In other news, General Counsel Ebun Garner sold 120,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $5.59, for a total transaction of $670,800.00. Following the completion of the transaction, the general counsel directly owned 25,076 shares of the company’s stock, valued at $140,174.84. This represents a 82.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shannon Morris sold 20,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $15.04, for a total value of $300,800.00. Additional details regarding this sale are available in the official SEC disclosure. 14.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Erasca

A number of institutional investors and hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC bought a new stake in shares of Erasca during the 4th quarter valued at about $38,000. Stifel Financial Corp purchased a new stake in Erasca in the 4th quarter worth approximately $38,000. XTX Topco Ltd bought a new stake in shares of Erasca during the 4th quarter valued at about $40,000. Mariner LLC bought a new position in Erasca in the fourth quarter worth $40,000. Finally, Cibc World Markets Corp bought a new position in shares of Erasca during the fourth quarter valued at approximately $43,000. 67.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ERAS. Stifel Nicolaus set a $20.00 price objective on Erasca in a research report on Tuesday. Piper Sandler lifted their price target on shares of Erasca from $5.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Guggenheim reiterated a “buy” rating and set a $12.00 target price on shares of Erasca in a research report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a research report on Thursday, January 22nd. Finally, HC Wainwright lifted their target price on shares of Erasca from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Erasca has a consensus rating of “Moderate Buy” and a consensus price target of $10.33.

Read Our Latest Stock Report on ERAS

Erasca Company Profile

(Get Free Report)

Erasca, Inc is a clinical‐stage biopharmaceutical company dedicated to the discovery and development of precision medicines for patients with cancer. The company focuses on small molecule therapeutics that target critical signaling pathways involved in tumor growth and survival, with a primary emphasis on inhibitors of the MAPK pathway. Erasca’s approach is designed to deliver oral, targeted therapies that address both oncogene‐driven and immuno‐oncology indications, aiming to improve outcomes for patients with unmet medical needs.

Erasca’s pipeline comprises multiple development candidates, including small molecule inhibitors engineered to disrupt key nodes in cancer cell signaling.

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