The Goldman Sachs Group Cuts Erasca (NASDAQ:ERAS) Price Target to $4.00

Erasca (NASDAQ:ERASFree Report) had its target price cut by The Goldman Sachs Group from $7.00 to $4.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Capital One Financial restated an overweight rating and set a $8.00 price objective on shares of Erasca in a report on Monday, March 11th. HC Wainwright cut their price objective on shares of Erasca from $8.00 to $5.00 and set a buy rating for the company in a research report on Monday, May 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $6.83.

View Our Latest Stock Analysis on Erasca

Erasca Stock Up 2.9 %

Erasca stock opened at $2.48 on Tuesday. Erasca has a 12-month low of $1.51 and a 12-month high of $3.38. The firm’s fifty day moving average is $2.11 and its 200 day moving average is $2.04. The company has a market capitalization of $429.93 million, a PE ratio of -2.95 and a beta of 1.06.

Erasca (NASDAQ:ERASGet Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Sell-side analysts expect that Erasca will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling at Erasca

In other Erasca news, Director Alexander W. Casdin acquired 80,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was purchased at an average cost of $2.27 per share, for a total transaction of $181,600.00. Following the acquisition, the director now owns 573,974 shares in the company, valued at approximately $1,302,920.98. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 21.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ERAS. Aaron Wealth Advisors LLC purchased a new position in Erasca during the 4th quarter valued at $28,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Erasca in the 4th quarter worth about $35,000. China Universal Asset Management Co. Ltd. grew its position in shares of Erasca by 350.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,472 shares of the company’s stock worth $37,000 after buying an additional 13,597 shares during the period. RPO LLC purchased a new stake in shares of Erasca in the 4th quarter worth about $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Erasca by 207.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,421 shares of the company’s stock worth $68,000 after buying an additional 23,228 shares during the period. 67.78% of the stock is owned by hedge funds and other institutional investors.

Erasca Company Profile

(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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Analyst Recommendations for Erasca (NASDAQ:ERAS)

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