While Erasca Inc has underperformed by -1.65%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ERAS rose by 61.08%, with highs and lows ranging from $3.45 to $1.64, whereas the simple moving average jumped by 17.88% in the last 200 days.
On November 18, 2024, Jefferies started tracking Erasca Inc (NASDAQ: ERAS) recommending Buy. A report published by CapitalOne on March 11, 2024, Initiated its previous ‘Overweight’ rating for ERAS. BofA Securities also Downgraded ERAS shares as ‘Neutral’, setting a target price of $6 on the company’s shares in a report dated January 05, 2024. H.C. Wainwright Initiated an Buy rating on October 11, 2023, and assigned a price target of $10. Mizuho initiated its ‘Buy’ rating for ERAS, as published in its report on March 30, 2023. Goldman’s report from February 24, 2023 suggests a price prediction of $10 for ERAS shares, giving the stock a ‘Buy’ rating. Morgan Stanley also rated the stock as ‘Overweight’.
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Analysis of Erasca Inc (ERAS)
In order to gain a clear picture of Erasca Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -40.33% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 11.00, 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.
An average volume of 1.81M can be a very valuable indicator of volatility for ERAS stock. On a monthly basis, the volatility of the stock is set at 7.74%, whereas on a weekly basis, it is put at 7.61%, with a loss of -7.74% over the past seven days. Furthermore, long-term investors anticipate a median target price of $5.00, showing growth from the present price of $2.98, 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?
In addition to the fundamentals, you should also consider how many employees own shares in 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 42.23%. 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 56.34% 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 56.34% at present.
