Charles Schwab Investment Management Inc. Has $4.42 Million Stock Holdings in Erasca, Inc. (NASDAQ:ERAS)

Charles Schwab Investment Management Inc. increased its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 2.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,762,696 shares of the company’s stock after buying an additional 39,066 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Erasca were worth $4,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ERAS. Intech Investment Management LLC bought a new position in shares of Erasca in the third quarter worth about $173,000. The Manufacturers Life Insurance Company raised its position in Erasca by 41.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 67,661 shares of the company’s stock worth $185,000 after purchasing an additional 19,800 shares during the last quarter. FMR LLC raised its position in Erasca by 32.8% in the 3rd quarter. FMR LLC now owns 306,129 shares of the company’s stock worth $836,000 after purchasing an additional 75,642 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Erasca by 51.7% during the 3rd quarter. MetLife Investment Management LLC now owns 103,686 shares of the company’s stock worth $283,000 after buying an additional 35,355 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Erasca in the 3rd quarter valued at $994,000. Institutional investors own 67.78% of the company’s stock.

Erasca Trading Down 0.7 %

NASDAQ ERAS opened at $1.48 on Wednesday. Erasca, Inc. has a 12 month low of $1.23 and a 12 month high of $3.45. The stock has a 50-day simple moving average of $1.61 and a 200 day simple moving average of $2.34. The company has a market capitalization of $418.44 million, a PE ratio of -1.78 and a beta of 1.22.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. During the same period in the prior year, the firm earned ($0.20) earnings per share. As a group, sell-side analysts predict that Erasca, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ERAS has been the topic of several research reports. The Goldman Sachs Group cut their price target on Erasca from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Bank of America raised Erasca from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Tuesday, January 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $4.00 target price on shares of Erasca in a research note on Friday, March 7th. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Erasca in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $4.80.

Erasca 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.