Erasca (NASDAQ:ERAS) PT Lowered to $3.00 at The Goldman Sachs Group

Erasca (NASDAQ:ERAS) had its price objective reduced by The Goldman Sachs Group from $4.00 to $3.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 15.38% from the company’s previous close.

Separately, HC Wainwright upped their target price on Erasca from $5.00 to $6.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Erasca currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Erasca Price Performance

NASDAQ:ERAS remained flat at $2.60 during mid-day trading on Wednesday. The company had a trading volume of 554,763 shares, compared to its average volume of 1,508,540. The company has a 50 day moving average price of $2.58 and a 200 day moving average price of $2.26. The company has a market capitalization of $450.73 million, a PE ratio of -3.10 and a beta of 1.17. Erasca has a one year low of $1.51 and a one year high of $3.45.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.12). Equities research analysts anticipate that Erasca will post -0.77 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Alexander W. Casdin bought 80,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average cost of $2.27 per share, with a total value of $181,600.00. Following the completion of the purchase, the director now owns 573,974 shares in the company, valued at approximately $1,302,920.98. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its stake in shares of Erasca by 24.4% in the fourth quarter. SG Americas Securities LLC now owns 47,912 shares of the company’s stock worth $102,000 after buying an additional 9,391 shares during the period. Bailard Inc. bought a new stake in Erasca during the 4th quarter valued at approximately $106,000. Vanguard Personalized Indexing Management LLC bought a new stake in Erasca during the 4th quarter valued at approximately $35,000. RPO LLC purchased a new position in Erasca during the 4th quarter valued at approximately $44,000. Finally, Pale Fire Capital SE grew its holdings in Erasca by 342.0% during the 4th quarter. Pale Fire Capital SE now owns 186,101 shares of the company’s stock valued at $396,000 after buying an additional 144,000 shares in the last quarter. Institutional investors 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.