The stock price of Erasca Inc (NASDAQ: ERAS) has jumped by 4.48 compared to previous close of 2.79. Despite this, the company has seen a gain of 1.57% in its stock price over the last five trading days. globenewswire.com reported 2024-08-12 that In-licensed potential best-in-class pan-RAS molecular glue ERAS-0015 and potential first-in-class pan-KRAS inhibitor ERAS-4001 with a goal of expanding treatment options across RAS-driven tumors
Is It Worth Investing in Erasca Inc (NASDAQ: ERAS) Right Now?
Moreover, the 36-month beta value for ERAS is 1.16. Analysts have varying opinions on the stock, with 7 analysts rating it as a “buy,” 1 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for ERAS is 166.04M and currently, short sellers hold a 14.10% of that float. On September 05, 2024, ERAS’s average trading volume was 2.01M shares.
ERAS’s Market Performance
The stock of Erasca Inc (ERAS) has seen a 1.57% increase in the past week, with a 14.76% rise in the past month, and a 11.26% gain in the past quarter. The volatility ratio for the week is 7.43%, and the volatility levels for the past 30 days are at 8.17% for ERAS. The simple moving average for the past 20 days is 7.64% for ERAS’s stock, with a 30.62% 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 5.89% 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 -15.51% of loss for the given period.
Volatility was left at 8.17%, however, over the last 30 days, the volatility rate increased by 7.43%, as shares surge +20.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +40.14% upper at present.
During the last 5 trading sessions, ERAS rose by +1.57%, which changed the moving average for the period of 200-days by +31.31% in comparison to the 20-day moving average, which settled at $2.73. In addition, Erasca Inc saw 36.85% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ERAS starting from Erasca Foundation, who proposed sale 8,333 shares at the price of $2.59 back on Aug 15 ’24. After this action, Erasca Foundation now owns shares of Erasca Inc, valued at $21,619 using the latest closing price.
Casdin Alexander W., the Director of Erasca Inc, purchase 80,000 shares at $2.27 during a trade that took place back on May 21 ’24, which means that Casdin Alexander W. is holding 573,974 shares at $181,920 based on the most recent closing price.
Stock Fundamentals for ERAS
Current profitability levels for the company are sitting at:
- -27.36 for the present operating margin
- 0.29 for the gross margin
The net margin for Erasca Inc stands at -28.37. The total capital return value is set at -0.3. Equity return is now at value -38.90, with -32.76 for asset returns.
Based on Erasca Inc (ERAS), the company’s capital structure generated 0.11 points at debt to capital in total, while cash flow to debt ratio is standing at -2.06. The debt to equity ratio resting at 0.12. The interest coverage ratio of the stock is -39.9.
Currently, EBITDA for the company is -137.79 million with net debt to EBITDA at 0.79. When we switch over and look at the enterprise to sales, we see a ratio of 128.23. The receivables turnover for the company is 2.54for trailing twelve months and the total asset turnover is 0.01. The liquidity ratio also appears to be rather interesting for investors as it stands at 16.79.
Conclusion
To wrap up, the performance of Erasca Inc (ERAS) has been better in recent times. The stock has received a bullish 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.
