Erasca (NASDAQ:ERAS) Trading Up 7.1%

Erasca, Inc. (NASDAQ:ERASGet Rating) traded up 7.1% on Tuesday . The stock traded as high as $8.92 and last traded at $8.85. 14,760 shares changed hands during trading, a decline of 98% from the average session volume of 805,903 shares. The stock had previously closed at $8.26.

A number of equities analysts have issued reports on ERAS shares. Zacks Investment Research upgraded Erasca from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, March 29th. Guggenheim decreased their price target on shares of Erasca from $25.00 to $20.00 in a research note on Monday, January 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Erasca presently has an average rating of “Buy” and a consensus price target of $22.40.

The business has a 50 day moving average price of $10.47 and a 200 day moving average price of $13.80.

Erasca (NASDAQ:ERASGet Rating) last issued its earnings results on Thursday, March 24th. The company reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.10. As a group, analysts anticipate that Erasca, Inc. will post -1.44 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. ARCH Venture Management LLC bought a new position in Erasca during the fourth quarter valued at approximately $172,246,000. Alliancebernstein L.P. raised its position in shares of Erasca by 28.9% during the 4th quarter. Alliancebernstein L.P. now owns 3,256,646 shares of the company’s stock valued at $50,739,000 after buying an additional 729,615 shares in the last quarter. Artal Group S.A. bought a new position in shares of Erasca in the 3rd quarter valued at about $67,315,000. BlackRock Inc. grew its position in Erasca by 56.2% in the fourth quarter. BlackRock Inc. now owns 1,888,445 shares of the company’s stock worth $29,422,000 after acquiring an additional 679,629 shares in the last quarter. Finally, EDBI Pte Ltd bought a new stake in Erasca during the fourth quarter worth approximately $13,849,000. Institutional investors own 40.76% of the company’s stock.

About Erasca (NASDAQ:ERAS)

Erasca, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. Its lead candidates include ERAS-007, an oral inhibitor of ERK1/2 for the treatment of NSCLC, colorectal cancer, and acute myeloid leukemia; and ERAS-601, an oral SHP2 inhibitor for patients with advanced or metastatic solid tumors.

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