Erasca (NASDAQ:ERAS) Trading 3.8% Higher – Should You Buy?

Shares of Erasca, Inc. (NASDAQ:ERASGet Free Report) traded up 3.8% on Tuesday . The company traded as high as $2.77 and last traded at $2.74. 718,831 shares changed hands during trading, a decline of 56% from the average session volume of 1,624,207 shares. The stock had previously closed at $2.64.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Erasca in a research note on Friday, October 25th. The Goldman Sachs Group upped their target price on Erasca from $3.00 to $3.50 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.10.

View Our Latest Analysis on Erasca

Erasca Stock Down 3.6 %

The stock has a 50-day moving average of $2.76 and a 200 day moving average of $2.54. The stock has a market cap of $762.76 million, a PE ratio of -2.93 and a beta of 1.16.

Erasca (NASDAQ:ERASGet Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.12). On average, equities analysts anticipate that Erasca, Inc. will post -0.91 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new position in Erasca in the second quarter valued at approximately $31,000. Sei Investments Co. acquired a new position in Erasca in the second quarter valued at approximately $39,000. Victory Capital Management Inc. lifted its holdings in Erasca by 82.2% in the second quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock valued at $51,000 after acquiring an additional 9,689 shares during the period. Creative Planning lifted its holdings in Erasca by 23.0% in the third quarter. Creative Planning now owns 20,014 shares of the company’s stock valued at $55,000 after acquiring an additional 3,737 shares during the period. Finally, Edmonds Duncan Registered Investment Advisors LLC lifted its holdings in Erasca by 41.2% in the second quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock valued at $81,000 after acquiring an additional 10,000 shares during the period. 67.78% of the stock is owned by institutional investors and hedge funds.

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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