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

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

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

Other analysts have also issued reports about the company. The Goldman Sachs Group dropped 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. Bank of America raised shares of Erasca from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $4.00 price target on shares of Erasca in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $4.80.

Erasca Stock Down 0.7 %

Shares of NASDAQ ERAS opened at $1.48 on Monday. The company has a market capitalization of $418.44 million, a PE ratio of -1.78 and a beta of 1.22. The stock’s 50 day moving average price is $1.61 and its 200-day moving average price is $2.34. Erasca has a twelve month low of $1.23 and a twelve month high of $3.45.

Institutional Trading of Erasca

Several hedge funds have recently made changes to their positions in the company. AXQ Capital LP purchased a new stake in Erasca in the 4th quarter worth about $27,000. Mackenzie Financial Corp purchased a new position in shares of Erasca in the fourth quarter worth about $28,000. Neuberger Berman Group LLC bought a new stake in shares of Erasca in the fourth quarter valued at approximately $33,000. Brevan Howard Capital Management LP bought a new position in Erasca in the 4th quarter worth approximately $41,000. Finally, Cibc World Markets Corp bought a new position in Erasca in the 4th quarter worth approximately $43,000. 67.78% of the stock is currently owned by institutional investors.

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.