In the last trading session, 1.2 million shares of the Erasca Inc (NASDAQ:ERAS) were traded, and its beta was 1.18. Most recently the company’s share price was $2.79, and it changed around $0.06 or 2.20% from the last close, which brings the market valuation of the company to $788.81M. ERAS currently trades at a discount to its 52-week high of $3.45, offering almost -23.66% off that amount. The share price’s 52-week low was $1.51, which indicates that the current value has risen by an impressive 45.88% since then. We note from Erasca Inc’s average daily trading volume that its 10-day average is 1.86 million shares, with the 3-month average coming to 1.93 million.
Erasca Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.25. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 1 recommended ERAS as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Erasca Inc is expected to report earnings per share of -0.13 for the current quarter.
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Erasca Inc (NASDAQ:ERAS) trade information
Instantly ERAS has showed a green trend with a performance of 2.20% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 3.18 on recent trading dayincreased the stock’s daily price by 12.26%. The company’s shares are currently up 30.99% year-to-date, but still down -6.69% over the last five days. On the other hand, Erasca Inc (NASDAQ:ERAS) is 2.20% up in the 30-day period. We can see from the shorts that 32.97 million shares have been sold at a short interest cover period of 23.89 day(s).
The consensus price target as assigned by Wall Street analysts is $6.5, which translates to bulls needing to increase their stock price by 57.08% from its current value. Analyst projections state that ERAS is forecast to be at a low of $6 and a high of $7.
Erasca Inc (ERAS) estimates and forecasts
Erasca Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 18.72 percent over the past six months and at a 6.02% annual growth rate that is well below the industry average of 17.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 35.00% in revenue this quarter, and will report an increase of 39.13% in the next quarter.
Forecasts for the next quarter put sales growth at �.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -69.36%. Erasca Inc earnings are expected to increase by 7.64% in 2024, but the outlook is negative -4.10% per year for the next five years.
ERAS Dividends
Erasca Inc’s next quarterly earnings report is expected to be released in December.
Erasca Inc (NASDAQ:ERAS)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 12.39% of Erasca Inc shares, and 87.00% of them are in the hands of institutional investors. The stock currently has a share float of 99.31%. Erasca Inc stock is held by 183.0 institutions, with VR ADVISER, LLC being the largest institutional investor. By 2024-06-30, it held 7.4452% of the shares, which is about 16.22 million shares worth $38.27 million.
FRAZIER LIFE SCIENCES MANAGEMENT, L.P., with 7.4452% or 16.22 million shares worth $38.27 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
