Erasca Inc [ERAS] Is Currently 6.49 above its 200 Period Moving Avg: What Does This Mean?


Erasca Inc [NASDAQ: ERAS] stock went on an upward path that rose over 6.49% on Friday, amounting to a one-week price increase of more than 6.49%.

Over the last 12 months, ERAS stock dropped by -31.60%. The one-year Erasca Inc stock forecast points to a potential upside of 70.24. The average equity rating for ERAS stock is currently 1.33, trading closer to a bullish pattern in the stock market.

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The market cap for the stock reached $341.52 million, with 151.09 million shares outstanding and 103.01 million shares in the current float. Compared to the average trading volume of 779.94K shares, ERAS stock reached a trading volume of 11040225 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Erasca Inc [ERAS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ERAS shares is $6.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ERAS stock is a recommendation set at 1.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

CapitalOne have made an estimate for Erasca Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 11, 2024. While these analysts kept the previous recommendation, BofA Securities raised their target price from $11 to $6. The new note on the price target was released on January 05, 2024, representing the official price target for Erasca Inc stock. Previously, the target price had yet another raise to $10, while H.C. Wainwright analysts kept a Buy rating on ERAS stock.

The Average True Range (ATR) for Erasca Inc is set at 0.14 The Price to Book ratio for the last quarter was 1.03, with the Price to Cash per share for the same quarter was set at 1.72.

ERAS Stock Performance Analysis:

Erasca Inc [ERAS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.49. With this latest performance, ERAS shares gained by 10.06% in over the last four-week period, additionally sinking by -15.09% over the last 6 months – not to mention a drop of -31.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ERAS stock in for the last two-week period is set at 48.56, with the RSI for the last a single of trading hit 49.73, and the three-weeks RSI is set at 48.41 for Erasca Inc [ERAS]. The present Moving Average for the last 50 days of trading for this stock 2.0518, while it was recorded at 1.8940 for the last single week of trading, and 2.1425 for the last 200 days.

Insight into Erasca Inc Fundamentals:

Erasca Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.14 and a Current Ratio set at 10.14.

Erasca Inc [ERAS] Institutonal Ownership Details

The top three institutional holders of ERAS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ERAS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ERAS stock with ownership which is approximately 5.8386%.