While Erasca Inc has underperformed by -2.31%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ERAS rose by 12.67%, with highs and lows ranging from $3.45 to $1.51, whereas the simple moving average jumped by 10.65% in the last 200 days.
On March 11, 2024, CapitalOne started tracking Erasca Inc (NASDAQ: ERAS) recommending Overweight. A report published by BofA Securities on January 05, 2024, Downgraded its rating to ‘Neutral’ for ERAS. H.C. Wainwright also rated ERAS shares as ‘Buy’, setting a target price of $10 on the company’s shares in an initiating report dated October 11, 2023. Mizuho Initiated an Buy rating on March 30, 2023, and assigned a price target of $9. Goldman initiated its ‘Buy’ rating for ERAS, as published in its report on February 24, 2023. Morgan Stanley’s report from February 03, 2023 suggests a price prediction of $15 for ERAS shares, giving the stock a ‘Overweight’ rating.
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Analysis of Erasca Inc (ERAS)
One of the most important indicators of Erasca Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -38.90% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 16.79, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and ERAS is recording 2.46M average volume. On a monthly basis, the volatility of the stock is set at 7.17%, whereas on a weekly basis, it is put at 6.33%, with a loss of -12.28% over the past seven days. Furthermore, long-term investors anticipate a median target price of $4.57, showing growth from the present price of $2.54, which can serve as yet another indication of whether ERAS is worth investing in or should be passed over.
How Do You Analyze Erasca Inc Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 37.92%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 50.49% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
ERAS shares are owned by institutional investors to the tune of 50.49% at present.
