Goldman Sachs Maintains Erasca Buy Recommendation
Fintel reports that on May 16, 2023, Goldman Sachs maintained coverage of Erasca (NASDAQ:ERAS) with a Buy recommendation.
Analyst Price Forecast Suggests 426.74% Upside
As of May 11, 2023, the average one-year price target for Erasca is 15.59. The forecasts range from a low of 9.09 to a high of $23.10. The average price target represents an increase of 426.74% from its latest reported closing price of 2.96.
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The projected annual revenue for Erasca is 0MM. The projected annual non-GAAP EPS is -1.43.
What is the Fund Sentiment?
There are 292 funds or institutions reporting positions in Erasca. This is an increase of 19 owner(s) or 6.96% in the last quarter. Average portfolio weight of all funds dedicated to ERAS is 0.11%, a decrease of 40.79%. Total shares owned by institutions decreased in the last three months by 10.87% to 78,607K shares. The put/call ratio of ERAS is 0.07, indicating a bullish outlook.
What are Other Shareholders Doing?
Arch Venture holds 11,056K shares representing 7.33% ownership of the company. No change in the last quarter.
Cormorant Asset Management holds 10,813K shares representing 7.17% ownership of the company. No change in the last quarter.
Armistice Capital holds 7,350K shares representing 4.88% ownership of the company. In it’s prior filing, the firm reported owning 2,700K shares, representing an increase of 63.27%. The firm increased its portfolio allocation in ERAS by 56.92% over the last quarter.
PFM Health Sciences holds 4,797K shares representing 3.18% ownership of the company. No change in the last quarter.
Artal Group holds 4,721K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 4,711K shares, representing an increase of 0.22%. The firm decreased its portfolio allocation in ERAS by 25.48% over the last quarter.
Erasca Background Information
(This description is provided by the company.)
At Erasca, its name is its mission: To erase cancer. Erasca is a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company was co-founded by leading pioneers in precision oncology and RAS targeting to create novel therapies and combination regimens designed to comprehensively shut down the RAS/MAPK pathway for the treatment of cancer. Erasca has assembled what the company believes to be the deepest RAS/MAPK pathway-focused pipeline in the industry. Erasca believes its team’s capabilities and experience, further guided by its scientific advisory board which includes the world’s leading experts in the RAS/MAPK pathway, uniquely position the company to achieve its bold mission of erasing cancer.
Key filings for this company:
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K
This article originally appeared on Fintel
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