Moreover, the 36-month beta value for ERAS is 1.09. Analysts have varying opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for ERAS is 102.74M and currently, short sellers hold a 9.22% of that float. On May 10, 2024, ERAS’s average trading volume was 794.93K shares.
ERAS) stock’s latest price update
Erasca Inc (NASDAQ: ERAS)’s stock price has dropped by -8.84 in relation to previous closing price of 2.15. Nevertheless, the company has seen a loss of -8.84% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-23 that Erasca (ERAS) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company’s earnings prospects. This might drive the stock higher in the near term.
ERAS’s Market Performance
ERAS’s stock has fallen by -8.84% in the past week, with a monthly drop of -11.71% and a quarterly rise of 11.36%. The volatility ratio for the week is 6.07% while the volatility levels for the last 30 days are 6.36% for Erasca Inc. The simple moving average for the past 20 days is -2.37% for ERAS’s stock, with a -9.52% simple moving average for the past 200 days.
Analysts’ Opinion of ERAS
Many brokerage firms have already submitted their reports for ERAS stocks, with CapitalOne repeating the rating for ERAS by listing it as a “Overweight.” The predicted price for ERAS in the upcoming period, according to CapitalOne is $8 based on the research report published on March 11, 2024 of the current year 2024.
BofA Securities, on the other hand, stated in their research note that they expect to see ERAS reach a price target of $6, previously predicting the price at $11. The rating they have provided for ERAS stocks is “Neutral” according to the report published on January 05th, 2024.
H.C. Wainwright gave a rating of “Buy” to ERAS, setting the target price at $10 in the report published on October 11th of the previous year.
ERAS Trading at -7.18% from the 50-Day Moving Average
After a stumble in the market that brought ERAS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -41.93% of loss for the given period.
Volatility was left at 6.36%, however, over the last 30 days, the volatility rate increased by 6.07%, as shares sank -14.41% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -16.60% lower at present.
During the last 5 trading sessions, ERAS fell by -8.84%, which changed the moving average for the period of 200-days by -21.91% in comparison to the 20-day moving average, which settled at $1.99. In addition, Erasca Inc saw -7.98% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ERAS starting from Lim Jonathan E, who purchase 278,150 shares at the price of $1.72 back on Dec 06 ’23. After this action, Lim Jonathan E now owns 12,899,360 shares of Erasca Inc, valued at $478,418 using the latest closing price.
Start Valerie Denise Harding, the Director of Erasca Inc, purchase 10,000 shares at $1.85 during a trade that took place back on Dec 06 ’23, which means that Start Valerie Denise Harding is holding 20,000 shares at $18,480 based on the most recent closing price.
Stock Fundamentals for ERAS
Current profitability levels for the company are sitting at:
- -25.69 for the present operating margin
- 0.49 for the gross margin
The net margin for Erasca Inc stands at -22.73. The total capital return value is set at -0.42. Equity return is now at value -37.60, with -30.29 for asset returns.
Based on Erasca Inc (ERAS), the company’s capital structure generated 0.16 points at debt to capital in total, while cash flow to debt ratio is standing at -1.97. The debt to equity ratio resting at 0.19. The interest coverage ratio of the stock is -37.47.
Currently, EBITDA for the company is -137.79 million with net debt to EBITDA at 0.15. When we switch over and look at the enterprise to sales, we see a ratio of 56.99. The liquidity ratio also appears to be rather interesting for investors as it stands at 10.14.
Conclusion
To wrap up, the performance of Erasca Inc (ERAS) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
