Erasca (NASDAQ:ERAS) Posts Earnings Results, Beats Expectations By $0.06 EPS

Erasca (NASDAQ:ERAS) issued its quarterly earnings data on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06, Zacks reports.

Erasca Stock Down 1.0 %

Shares of ERAS stock traded down $0.03 during trading on Wednesday, hitting $2.96. The company had a trading volume of 326,448 shares, compared to its average volume of 1,630,087. Erasca has a 52 week low of $1.51 and a 52 week high of $3.45. The stock has a market capitalization of $836.20 million, a price-to-earnings ratio of -3.42 and a beta of 1.16. The stock’s 50-day moving average is $2.79 and its two-hundred day moving average is $2.61.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ERAS shares. The Goldman Sachs Group raised their price objective on shares of Erasca from $3.00 to $3.50 and gave the company a “buy” rating in a research report on Friday, October 25th. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Erasca in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.10.

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.