Erasca (NASDAQ:ERAS – Get Rating) posted its quarterly earnings data on Thursday. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10, MarketWatch Earnings reports.
ERAS opened at $9.13 on Friday. Erasca has a 52-week low of $8.70 and a 52-week high of $24.47. The company has a 50 day moving average of $11.47 and a two-hundred day moving average of $15.31.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ERAS. Royal Bank of Canada purchased a new stake in Erasca during the third quarter worth approximately $49,000. Morgan Stanley purchased a new position in shares of Erasca in the third quarter valued at $70,000. Legal & General Group Plc grew its holdings in Erasca by 330.0% during the 4th quarter. Legal & General Group Plc now owns 8,282 shares of the company’s stock valued at $129,000 after purchasing an additional 6,356 shares in the last quarter. Citigroup Inc. increased its stake in Erasca by 306.5% during the 4th quarter. Citigroup Inc. now owns 9,581 shares of the company’s stock worth $149,000 after buying an additional 7,224 shares during the period. Finally, Invesco Ltd. acquired a new position in Erasca in the 4th quarter worth $167,000. Institutional investors own 40.76% of the company’s stock.
Several equities analysts recently commented on ERAS shares. Zacks Investment Research raised shares of Erasca from a “sell” rating to a “hold” rating in a research report on Wednesday, January 5th. Guggenheim dropped their price target on shares of Erasca from $25.00 to $20.00 in a research report on Monday, January 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Erasca presently has a consensus rating of “Buy” and an average target price of $25.25.
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Erasca Company Profile (Get Rating)
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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Read More: Erasca (NASDAQ:ERAS) Releases Earnings Results, Beats Estimates By $0.10 EPS
