Erasca Inc [NASDAQ: ERAS] gained 7.17% or 0.2 points to close at $2.99 with a heavy trading volume of 3579296 shares.
The daily chart for ERAS points out that the company has recorded 34.68% gains over the past six months.
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If we look at the average trading volume of 2.01M shares, ERAS reached to a volume of 3579296 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $4.57 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 1.38. 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 0.21 The Price to Book ratio for the last quarter was 1.81, with the Price to Cash per share for the same quarter was set at 1.45.
Trading performance analysis for ERAS stock
Erasca Inc [ERAS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.18. With this latest performance, ERAS shares gained by 17.72% in over the last four-week period, additionally plugging by 34.68% over the last 6 months – not to mention a rise of 14.12% 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 57.78, with the RSI for the last a single of trading hit 60.92, and the three-weeks RSI is set at 56.38 for Erasca Inc [ERAS]. The present Moving Average for the last 50 days of trading for this stock 2.77, while it was recorded at 2.84 for the last single week of trading, and 2.24 for the last 200 days.
Erasca Inc [ERAS]: A deeper dive into fundamental analysis
Erasca Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 16.79 and a Current Ratio set at 16.79.
Erasca Inc [ERAS]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Erasca Inc posted -0.2/share EPS, while the average EPS was predicted by analysts to be reported at -0.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.02. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ERAS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Erasca Inc go to -4.10%.
An analysis of Institutional ownership at Erasca Inc [ERAS]
There are presently around $76.87%, or 87.75%% of ERAS stock, in the hands of institutional investors. The top three institutional holders of ERAS stocks are: VR ADVISER, LLC with ownership of 16.22 million shares, which is approximately 7.4452%. FRAZIER LIFE SCIENCES MANAGEMENT, L.P., holding 16.22 million shares of the stock with an approximate value of $$38.27 million in ERAS stocks shares; and FRAZIER LIFE SCIENCES MANAGEMENT, L.P., currently with $$25.04 million in ERAS stock with ownership which is approximately 7.0199%.
