Erasca, Inc. (NASDAQ:ERAS) Stock Holdings Boosted by Swiss National Bank

Swiss National Bank increased its position in Erasca, Inc. (NASDAQ:ERAS) by 9.6% during the fourth quarter, Holdings Channel reports. The fund owned 361,200 shares of the company’s stock after purchasing an additional 31,500 shares during the quarter. Swiss National Bank’s holdings in Erasca were worth $907,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Erasca by 627.5% in the third quarter. Barclays PLC now owns 343,930 shares of the company’s stock valued at $939,000 after purchasing an additional 296,657 shares during the period. Geode Capital Management LLC increased its position in Erasca by 36.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,502,698 shares of the company’s stock valued at $12,295,000 after acquiring an additional 1,190,807 shares during the period. State Street Corp increased its position in Erasca by 145.2% in the 3rd quarter. State Street Corp now owns 6,027,620 shares of the company’s stock valued at $16,455,000 after acquiring an additional 3,569,440 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Erasca during the 3rd quarter valued at $994,000. Finally, Fred Alger Management LLC acquired a new position in Erasca during the 3rd quarter worth $630,000. 67.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group lowered their price target on Erasca from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Raymond James assumed coverage on shares of Erasca in a research report on Wednesday. They set an “outperform” rating and a $5.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $4.00 price objective on shares of Erasca in a report on Friday, March 7th. Bank of America raised Erasca from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Tuesday, January 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Erasca in a report on Friday, March 21st. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $4.83.

Erasca Stock Down 1.9 %

ERAS opened at $1.52 on Friday. The firm has a market capitalization of $430.56 million, a P/E ratio of -1.83 and a beta of 1.22. The stock has a fifty day moving average of $1.59 and a 200-day moving average of $2.31. Erasca, Inc. has a 12-month low of $1.23 and a 12-month high of $3.45.

Erasca (NASDAQ:ERAS) last released its earnings results on Thursday, March 20th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. During the same period in the previous year, the firm posted ($0.20) EPS. On average, analysts expect that Erasca, Inc. will post -0.73 earnings per share for the current fiscal year.

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.