What is HC Wainwright’s Estimate for Erasca FY2024 Earnings?

Erasca, Inc. (NASDAQ:ERAS) – Investment analysts at HC Wainwright increased their FY2024 earnings per share estimates for Erasca in a research note issued on Wednesday, November 13th. HC Wainwright analyst A. Maldonado now anticipates that the company will post earnings per share of ($0.70) for the year, up from their previous estimate of ($0.89). HC Wainwright has a “Buy” rating and a $6.00 price target on the stock. The consensus estimate for Erasca’s current full-year earnings is ($0.82) per share. HC Wainwright also issued estimates for Erasca’s Q4 2024 earnings at ($0.12) EPS, Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.13) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($0.52) EPS, FY2026 earnings at ($0.55) EPS, FY2027 earnings at ($0.51) EPS and FY2028 earnings at ($0.32) EPS.

A number of other equities research analysts have also recently commented on ERAS. Jefferies Financial Group started coverage on Erasca in a research report on Monday. They set a “buy” rating and a $6.00 target price on the stock. The Goldman Sachs Group raised their price objective on Erasca from $3.00 to $3.50 and gave the company a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.08.

Erasca Stock Performance

ERAS opened at $2.73 on Monday. The company has a fifty day moving average of $2.78 and a two-hundred day moving average of $2.63. The stock has a market capitalization of $771.85 million, a price-to-earnings ratio of -3.29 and a beta of 1.16. Erasca has a fifty-two week low of $1.51 and a fifty-two week high of $3.45.

Erasca (NASDAQ:ERAS) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.06.

Hedge Funds Weigh In On Erasca

Several hedge funds and other institutional investors have recently made changes to their positions in ERAS. Vanguard Group Inc. lifted its stake in shares of Erasca by 14.4% in the first quarter. Vanguard Group Inc. now owns 4,338,108 shares of the company’s stock worth $8,937,000 after buying an additional 545,765 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Erasca by 286.5% in the 1st quarter. Acadian Asset Management LLC now owns 346,953 shares of the company’s stock worth $713,000 after purchasing an additional 257,174 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC boosted its holdings in shares of Erasca by 41.2% during the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock worth $81,000 after purchasing an additional 10,000 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Erasca by 50.6% in the second quarter. Bank of New York Mellon Corp now owns 392,490 shares of the company’s stock valued at $926,000 after purchasing an additional 131,829 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Erasca by 27.2% in the second quarter. Rhumbline Advisers now owns 154,615 shares of the company’s stock valued at $365,000 after purchasing an additional 33,106 shares during the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Erasca Company Profile

Erasca, Inc, a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company’s lead product is naporafenib which is in phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.