Erasca Inc. (NASDAQ:ERAS) currently has a daily average trading volume of 1.13M but it saw 835193 shares traded on Thursday. With a market cap of 442.57M USD, stock’s current market price of $3.23 came rising about 1.25 while comparing to the previous closing price of $3.19. In past 52 weeks, the stock remained buoying in the range of price level as high as $11.80 and as low as $2.93. In the recent trading on the day, stock has struck highest price mark of $3.33 while lowest mark touched by it was $3.08.
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Taking a look at 20-day trading activity of Erasca Inc. (ERAS) gives us an average price of $3.44, while its current price level is -72.63% below from 52-week high level whereas it is 10.24% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $3.78 while that of 200 days or SMA-200 reads an average of $6.27. A closer look into the stock’s movement over the week reveals that its volatility is standing at 6.20% during that period while stretching the period over a month that decreases to 6.09%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 38.07 which implies that the stock is in neutral territory.
Data by FactSet Research shows that 6 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 6 analysts suggested the investors to Buy the stock while 0 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Buy for the stock and that issued by Wall Street to investors is Strong Buy.
The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the Goldman which initiated the stock as “Buy” in its note to investors issued on February 24, 2023, recommending a price target of $10 for it. Morgan Stanley upgraded its recommendation for the stock as a “Overweight” from “Equal-Weight” on February 03, 2023 while assigning a price target of $15.
Over the week, ERAS’s stock price is moving 6.43% up while it is -17.18% when we observe its performance for the past one month. Year-to-date it is -25.06% down and over the past year, the stock is showing a downside performance of -69.73%.
The latest quarterly earnings report issued by the company was for quarter ended 9/29/2022, when its quarterly earnings per share (EPS) of -$0.29 beat the consensus estimate of -$0.31 for the same. The company is expected to be releasing its next quarterly report in 05/11/2023, for which analysts forecasted an EPS of -$0.29 while estimate for next year EPS is -$1.3. For ERAS, analysts are forecasting an EPS-growth rate of 29.70% for current year and estimate for EPS growth in next year is -1.50%.
Currently, Erasca Inc.’s total number of outstanding shares is 120.80M with 25.04% of that held by the insiders while 72.83% of its common stock has been owned by the institutions. Company’s return on equity (ROE) at -33.60%. Stock has a price to book (P/B) ratio of 1.07. Its return on asset (ROA) is -29.60% on average.
A filing at the U.S. Securities and Exchange Commission revealed that SPDR S&P Biotech ETF came shrinking its share ownership by -0.88% in the Erasca Inc. (ERAS) decreasing its stake to 1.60% with control over 21420.0 shares in the company. In the most recent quarter, Fidelity Select Port – Health Ca came cutting its stake by -3.14% in the company and now holds 1.74 million or 1.16% of the company’s stake having worth of about 6.28 million.
