What is HC Wainwright’s Estimate for Erasca FY2029 Earnings?

Erasca, Inc. (NASDAQ:ERAS) – Investment analysts at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of Erasca in a research report issued on Friday, March 21st. HC Wainwright analyst A. Maldonado anticipates that the company will post earnings of ($0.06) per share for the year. HC Wainwright has a “Buy” rating and a $6.00 price objective on the stock. The consensus estimate for Erasca’s current full-year earnings is ($0.73) per share.

Erasca (NASDAQ:ERAS) last posted its earnings results on Thursday, March 20th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. During the same quarter in the previous year, the business earned ($0.20) EPS.

ERAS has been the subject of a number of other reports. Morgan Stanley reissued an “overweight” rating and issued a $4.00 price target on shares of Erasca in a research note on Friday, March 7th. The Goldman Sachs Group lowered their price objective on Erasca from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America raised shares of Erasca from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Tuesday, January 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $4.80.

Erasca Stock Down 2.6 %

NASDAQ:ERAS opened at $1.49 on Monday. The firm’s fifty day simple moving average is $1.62 and its 200 day simple moving average is $2.35. The stock has a market cap of $421.26 million, a P/E ratio of -1.80 and a beta of 1.22. Erasca has a twelve month low of $1.23 and a twelve month high of $3.45.

Institutional Investors Weigh In On Erasca

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted its stake in shares of Erasca by 627.5% during the 3rd quarter. Barclays PLC now owns 343,930 shares of the company’s stock worth $939,000 after acquiring an additional 296,657 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Erasca by 36.0% in the third quarter. Geode Capital Management LLC now owns 4,502,698 shares of the company’s stock worth $12,295,000 after buying an additional 1,190,807 shares during the period. State Street Corp lifted its position in shares of Erasca by 145.2% during the 3rd quarter. State Street Corp now owns 6,027,620 shares of the company’s stock valued at $16,455,000 after buying an additional 3,569,440 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Erasca in the 3rd quarter worth approximately $994,000. Finally, Fred Alger Management LLC bought a new stake in Erasca during the 3rd quarter worth approximately $630,000. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Erasca Company Profile

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.