Erasca Inc. (NASDAQ:ERAS) finished Thursday with an addition of $0.31 to close at $2.91, an upside of 11.82 percent. An average of 526,948 shares of common stock have been traded in the last five days. There was a gain of $0.31 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 429,962 shares traded, while the 50-day average volume stands at 637,841.
ERAS stock has increased by 7.28% in the last month. The company shares reached their 1-month lowest point of $2.45 on 07/28/23. With the stock rallying to its 52-week high on 01/03/23, shares of the company touched a low of $2.45 and a high of $10.74 in 52 weeks. It has reached a new high 1 time so far this year and lost -32.55% or -$1.39 in price. In spite of this, the price is down -72.93% from the 52-week high.
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Valuation Metrics
Erasca Inc. (ERAS) stock’s beta is 1.09. Other valuation ratios to consider include the price-to-book (PB) ratio at 1.13.
Financial Health
The quick ratio of Erasca Inc. for the three months ended June 29 was 15.60, and the current ratio was 15.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Erasca Inc.’s return on assets was -51.10%.
Earnings Surprise
For the three-month period that ended June 29, Erasca Inc. had $116.99 million in cash. The company posted a net income of -$33.2 million in the quarter, while revenues of -$125.64 million were shrunk -38.77%. The analyst consensus anticipated Erasca Inc.’s latest quarter earnings to come in at -$0.24 per share, but it turned out to be -$0.21, a 12.50% surprise. At the end of the quarter ending June 29, Erasca Inc.’s stock balance sheet showed total liabilities of 81.09 million. Shareholders own equity worth $150.76 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Erasca Inc. (ERAS) price momentum. RSI 9-day as of the close on 10 August was 74.73%, suggesting the stock is Overbought, with historical volatility in this time frame at 59.33%.
As of today, ERAS’s price is $2.68 +11.88% or $0.31 from its 5-day moving average. ERAS is currently trading +11.03% higher than its 20-day SMA and -3.95% lower than its 100-day SMA. However, the stock’s current price level is +7.75% above the SMA50 and -60.16% below the SMA200.
The stochastic %K and %D were 76.47% and 68.00%, respectively, and the average true range (ATR) was 0.14. With the 14-day stochastic at 100.00% and the average true range at 0.14, the RSI (14) stands at 64.83%. The stock has reached 0.06 on the 9-day MACD Oscillator while the 14-day reading was at 0.10.
Analyst Ratings
Mizuho launched coverage on Erasca Inc. (NASDAQ: ERAS) in its analyst report released on March 30, 2023. The firm assigned the stock a Buy rating. The consensus rating for Erasca Inc. (ERAS) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ERAS, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 7 others rate it as a “buy”.
What is ERAS’s price target for the next 12 months?
Analysts predict a range of price targets between $6.00 and $15.00, with a median target of $9.50. Taking a look at these predictions, the average price target given by analysts for Erasca Inc. (ERAS) stock is $9.67.
