Erasca (NASDAQ:ERAS) Shares Gap Up to $18.02

Erasca Inc (NASDAQ:ERAS)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $18.02, but opened at $18.79. Erasca shares last traded at $18.04, with a volume of 611 shares traded.

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Erasca in a research note on Tuesday, August 10th. They set an “overweight” rating and a $28.00 price objective on the stock. Bank of America assumed coverage on Erasca in a research note on Tuesday, August 10th. They set a “buy” rating and a $28.00 price objective on the stock. Guggenheim assumed coverage on Erasca in a research note on Tuesday, August 10th. They set a “buy” rating and a $25.00 price objective on the stock. Evercore ISI assumed coverage on Erasca in a research note on Tuesday, August 10th. They set an “outperform” rating on the stock. Finally, Zacks Investment Research lowered Erasca from a “hold” rating to a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Erasca has a consensus rating of “Buy” and an average price target of $26.50.

The business’s 50-day simple moving average is $20.78.

Erasca (NASDAQ:ERAS) last posted its earnings results on Thursday, August 26th. The company reported ($1.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.49). Research analysts expect that Erasca Inc will post -1.87 earnings per share for the current year.

About Erasca (NASDAQ:ERAS)

Erasca Inc is a clinical-stage precision oncology company singularly focused on discovering, developing and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. Erasca Inc is based in SAN DIEGO.

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