A View of Erasca Inc (ERAS) Stock’s Fundamentals and Valuations

Erasca Inc [ERAS] stock prices are down -0.46% to $2.15 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The ERAS shares have gain 3.86% over the last week, with a monthly amount drifted -15.69%, and not seem to be holding up well over a long-time horizon.

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On 27, March 2024, Erasca Announces $45 Million Oversubscribed Private Placement Financing. In a post published today on Yahoo Finance, Funding from new and existing investors extends anticipated cash runway into H2 2026.

From an analyst’s perspective:

Erasca Inc [NASDAQ: ERAS] stock has seen the most recent analyst activity on March 11, 2024, when CapitalOne initiated its Overweight rating and assigned the stock a price target of $8. Previously, BofA Securities downgraded its rating to Neutral on January 05, 2024, and dropped its price target to $6. On October 11, 2023, H.C. Wainwright initiated with a Buy rating and assigned a price target of $10 on the stock. Mizuho started tracking the stock assigning a Buy rating and suggested a price target of $9 on March 30, 2023. Goldman initiated its recommendation with a Buy and recommended $10 as its price target on February 24, 2023. Morgan Stanley upgraded its rating to Overweight for this stock on February 03, 2023, but kept the price target unchanged to $15.

The stock price of Erasca Inc [ERAS] has been fluctuating between $1.51 and $3.38 over the past year. Currently, Wall Street analysts expect the stock to reach $7 within the next 12 months. Erasca Inc [NASDAQ: ERAS] shares were valued at $2.15 at the most recent close of the market. An investor can expect a potential return of 225.58% based on the average ERAS price forecast.

Analyzing the ERAS fundamentals

To continue investigating profitability, this company’s Return on Assets is posted at -0.31, Equity is 1.18 and Total Capital is -0.38. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.18.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.05 points at the first support level, and at 1.95 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.25, and for the 2nd resistance point, it is at 2.35.

Erasca Inc [ERAS] reported earnings per share of -$0.2 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.23/share, meaning a difference of $0.03 and a surprise factor of 13.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.2 per share as compared to estimates of -$0.22 per share, a difference of $0.02 representing a surprise of 9.10%.

Ratios To Look Out For

It’s worth pointing out that Erasca Inc [NASDAQ:ERAS]’s Current Ratio is 12.26. Also, the Quick Ratio is 12.26, while the Cash Ratio stands at 3.56.

Transactions by insiders

Recent insider trading involved Lim Jonathan E, Chairman & CEO, that happened on Dec 06 ’23 when 0.28 million shares were purchased. Director, Start Valerie Denise Harding completed a deal on Dec 06 ’23 to buy 10000.0 shares. Meanwhile, Chairman & CEO Lim Jonathan E bought 0.72 million shares on Dec 05 ’23.

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