Erasca (NASDAQ:ERAS) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Erasca (NASDAQ:ERAS) released its earnings results on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.06, Zacks reports.

Erasca Trading Down 2.0 %

NASDAQ ERAS traded down $0.06 during trading hours on Wednesday, hitting $2.93. 485,513 shares of the stock were exchanged, compared to its average volume of 1,630,810. Erasca has a 12-month low of $1.51 and a 12-month high of $3.45. The stock has a 50-day moving average of $2.79 and a 200 day moving average of $2.61.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ERAS shares. The Goldman Sachs Group boosted 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. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Erasca in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Erasca has a consensus rating of “Moderate Buy” and an average target price of $6.10.

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.