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

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

Erasca Stock Performance

ERAS traded down $0.09 on Wednesday, reaching $2.90. 525,320 shares of the company’s stock were exchanged, compared to its average volume of 1,630,991. Erasca has a twelve month low of $1.51 and a twelve month high of $3.45. The stock’s fifty day moving average price is $2.79 and its 200-day moving average price is $2.61.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ERAS shares. The Goldman Sachs Group lifted their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Erasca in a research report on Wednesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.