Erasca (NASDAQ:ERAS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, Zacks.com reports.
According to Zacks, “Erasca Inc. is a clinical-stage precision oncology company singularly focused on discovering, developing and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. Erasca Inc. is based in SAN DIEGO. “
Other research analysts also recently issued reports about the stock. Morgan Stanley started coverage on shares of Erasca in a research report on Tuesday, August 10th. They issued an “equal weight” rating and a $25.00 price target on the stock. Bank of America assumed coverage on shares of Erasca in a report on Tuesday, August 10th. They issued a “buy” rating and a $28.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Erasca in a report on Tuesday, August 10th. They issued an “overweight” rating and a $28.00 price objective on the stock. Evercore ISI assumed coverage on shares of Erasca in a report on Tuesday, August 10th. They issued an “outperform” rating on the stock. Finally, Guggenheim assumed coverage on shares of Erasca in a report on Tuesday, August 10th. They issued a “buy” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned 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 “Buy” and a consensus target price of $26.50.
Shares of Erasca stock traded down $0.19 during trading hours on Friday, reaching $18.03. The company’s stock had a trading volume of 79,696 shares, compared to its average volume of 370,019. The business’s 50 day moving average price is $19.51. Erasca has a one year low of $14.51 and a one year high of $24.47.
Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Wednesday, November 10th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.05. As a group, equities analysts expect that Erasca will post -1.93 EPS for the current year.
Several hedge funds have recently bought and sold shares of ERAS. Artal Group S.A. bought a new position in Erasca during the third quarter valued at approximately $67,315,000. Alliancebernstein L.P. bought a new position in Erasca during the third quarter valued at approximately $53,624,000. BlackRock Inc. bought a new position in Erasca during the third quarter valued at approximately $25,651,000. Deerfield Management Company L.P. Series C bought a new position in Erasca during the third quarter valued at approximately $16,693,000. Finally, ArrowMark Colorado Holdings LLC bought a new position in Erasca during the third quarter valued at approximately $10,106,000. Institutional investors and hedge funds own 8.68% of the company’s stock.
About Erasca
Erasca Inc is a clinical-stage precision oncology company singularly focused on discovering, developing and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. Erasca Inc is based in SAN DIEGO.