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

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

Erasca Stock Performance

Shares of ERAS opened at $2.81 on Friday. The firm’s 50-day simple moving average is $2.79 and its two-hundred day simple moving average is $2.61. Erasca has a fifty-two week low of $1.51 and a fifty-two week high of $3.45.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ERAS shares. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Erasca in a report on Wednesday. The Goldman Sachs Group lifted their target price on shares of Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.