Erasca (NASDAQ:ERAS) Research Coverage Started at Raymond James

Raymond James began coverage on shares of Erasca (NASDAQ:ERAS) in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $5.00 target price on the stock.

Several other research analysts have also recently commented on ERAS. The Goldman Sachs Group reduced their price target on Erasca from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Friday, March 21st. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Erasca in a research note on Friday, March 21st. Bank of America raised shares of Erasca from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $4.00 price target on shares of Erasca in a research report on Friday, March 7th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Erasca presently has an average rating of “Buy” and a consensus target price of $4.83.

Erasca Stock Down 1.9 %

Shares of ERAS stock opened at $1.52 on Wednesday. Erasca has a 12 month low of $1.23 and a 12 month high of $3.45. The company’s fifty day simple moving average is $1.59 and its 200-day simple moving average is $2.32. The firm has a market cap of $430.56 million, a PE ratio of -1.83 and a beta of 1.22.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. During the same quarter in the prior year, the firm earned ($0.20) EPS. On average, equities analysts predict that Erasca will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its position in Erasca by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 59,949 shares of the company’s stock worth $150,000 after purchasing an additional 5,614 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Erasca by 42.4% during the 4th quarter. New York State Common Retirement Fund now owns 26,859 shares of the company’s stock worth $67,000 after buying an additional 8,000 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Erasca by 8.7% during the 4th quarter. MetLife Investment Management LLC now owns 112,725 shares of the company’s stock worth $283,000 after buying an additional 9,039 shares during the period. Hsbc Holdings PLC grew its stake in Erasca by 57.3% in the 4th quarter. Hsbc Holdings PLC now owns 28,714 shares of the company’s stock valued at $73,000 after buying an additional 10,458 shares during the last quarter. Finally, AXQ Capital LP bought a new position in Erasca in the 4th quarter valued at about $27,000. 67.78% of the stock is owned by institutional investors and hedge funds.

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.