FY2029 Earnings Forecast for Erasca Issued By HC Wainwright

Erasca, Inc. (NASDAQ:ERAS) – Research analysts at HC Wainwright issued their FY2029 earnings per share estimates for Erasca in a research report issued on Friday, March 21st. HC Wainwright analyst A. Maldonado anticipates that the company will post earnings of ($0.06) per share for the year. HC Wainwright currently has a “Buy” rating and a $6.00 target price on the stock. The consensus estimate for Erasca’s current full-year earnings is ($0.73) per share.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. During the same quarter last year, the firm earned ($0.20) earnings per share.

Other analysts also recently issued research reports about the stock. 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 report on Tuesday, January 7th. Morgan Stanley reiterated an “overweight” rating and set a $4.00 price objective on shares of Erasca in a research report on Friday, March 7th. Finally, The Goldman Sachs Group dropped their target price on shares of Erasca from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Erasca has an average rating of “Buy” and an average price target of $4.80.

Erasca Stock Down 0.7 %

Shares of Erasca stock opened at $1.48 on Monday. The stock has a market cap of $418.44 million, a price-to-earnings ratio of -1.78 and a beta of 1.22. Erasca has a twelve month low of $1.23 and a twelve month high of $3.45. The company’s fifty day moving average is $1.61 and its 200 day moving average is $2.34.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ERAS. Octagon Capital Advisors LP bought a new stake in Erasca in the fourth quarter valued at $12,893,000. State Street Corp grew its stake in shares of Erasca by 145.2% in the 3rd quarter. State Street Corp now owns 6,027,620 shares of the company’s stock valued at $16,455,000 after buying an additional 3,569,440 shares during the period. Frazier Life Sciences Management L.P. increased its position in Erasca by 19.6% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 19,391,687 shares of the company’s stock valued at $52,939,000 after buying an additional 3,175,471 shares in the last quarter. Millennium Management LLC raised its stake in Erasca by 73.3% during the 4th quarter. Millennium Management LLC now owns 4,177,900 shares of the company’s stock worth $10,487,000 after buying an additional 1,767,350 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Erasca by 36.0% in the third quarter. Geode Capital Management LLC now owns 4,502,698 shares of the company’s stock worth $12,295,000 after acquiring an additional 1,190,807 shares in the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

About Erasca

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.