Erasca Inc. (NASDAQ:ERAS) does about 1.08M shares in volume on a normal day but saw 1522067 shares change hands in Monday trading. The company now has a market cap of 531.41M USD. Its current market price is $3.89, marking an increase of 1.30% compared to the previous close of $3.84. The 52 week high reached by this stock is $12.80 whilst the lowest price level in 52 weeks is $3.60. The script in recent trading has seen the stock touch a high of $3.92 and a low of $3.75.
Erasca Inc. (ERAS) has a 20-day trading average at $4.05 and the current price is -69.61% off the 52-week high compared with 8.06% distance from its 52-week low. The 50-day simple moving average of the closing price is $5.60 and its 200-day simple moving average is $6.90. If we look at the stock’s price movements over the week, volatility stands at 5.91%, which increases to 8.36% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 36.47 to suggest the stock is neutral.
5 analysts observing the Erasca Inc. (ERAS) stock have set the 12-month price targets for the company’s shares at between $15.00 and $22.00. The consensus objective for the share price is $18.60, suggesting that the stock has a potential upside of 79.09% over the period. The median price target is 78.39% away from the current levels at $18.00.
FactSet Research has provided data showing that 5 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 4 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The current price level is -4.33%, -31.25%, and -43.78% away from its SMA20, SMA50, and SMA200 respectively, with the ERAS price moving above the 50-day SMA on January 23. Erasca Inc. (ERAS) stock is down -6.49% over the week and -10.37% over the past month. Its price is -9.74% year-to-date and -65.91% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.29 above consensus estimates by $0.02. The company’s next earnings report is expected on 05/11/2023, with forecasts estimating quarterly EPS at -$0.29 and -$1.3 for whole year. ERAS’s earnings per share are forecast to grow by 29.70% this year and -1.50% over next year.
Its 12-month price target is $18.00. To reach the target analysts have set, the stock logically needs to grow 79.09 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $15.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $22.00.
Outstanding shares total 120.80M with insiders holding 25.04% of the shares and institutional holders owning 72.50% of the company’s common stock. The company has a return on equity of -33.60%. Price to book ratio is 1.29.
According to a U.S. Securities and Exchange Commission filing, SPDR S&P Biotech ETF has added its position in Erasca Inc. (ERAS) to 2,808,972 shares, mirroring a recent increase by 0.41%. SPDR S&P Biotech ETF added 11360.0 shares of Erasca Inc. common stock bringing its total worth to about $12.11 million at the end of recent close, SEC documents show. SPDR S&P Biotech ETF isn’t the only investment manager who changed stakes and is followed by Fidelity Select Port – Health Ca, which sold off -0.38 million shares to end up with 2,087,493 shares worth $9.0 million.