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

Erasca Inc (NASDAQ:ERAS) 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 trading hands.

Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Erasca from a “hold” rating to a “sell” rating in a research note on Tuesday. Guggenheim assumed coverage on Erasca in a report on Tuesday, August 10th. They set a “buy” rating and a $25.00 target price on the stock. Evercore ISI assumed coverage on Erasca in a report on Tuesday, August 10th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. assumed coverage on Erasca in a report on Tuesday, August 10th. They set an “overweight” rating and a $28.00 target price on the stock. Finally, Bank of America assumed coverage on Erasca in a report on Tuesday, August 10th. They set a “buy” rating and a $28.00 target price on the stock. One equities 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, the company currently has an average rating of “Buy” and an average target price of $26.50.

The company has a fifty day simple moving average of $20.78.

Erasca (NASDAQ:ERAS) last issued its earnings results on Thursday, August 26th. The company reported ($1.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.49). Equities research analysts forecast 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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