CapitalOne has recently initiated Erasca Inc (ERAS) stock to Overweight rating, as announced on March 11, 2024, according to Finviz. Earlier, on January 5, 2024, BofA Securities had reduced the stock from a Buy to Neutral, setting a price target of $6 for ERAS stock. H.C. Wainwright also initiated Buy rating with a price target of $10. Additionally, Mizuho initiated Buy rating on March 30, 2023, with a target price of $9. Goldman analysts, in their report published on February 24, 2023, also initiated Buy rating and set a price target of $10 for Erasca Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Sponsored
Erasca Inc (ERAS) Stock Trading Recap
On Monday, Erasca Inc (ERAS) stock saw a decline, ending the day at $3.11 which represents a decrease of $-0.03 or -0.96% from the prior close of $3.14. The stock opened at $3.2 and touched a low of $3.09 during the day, reaching a high of $3.24. The volume of shares traded was 2.57 million exceeding the average volume of 1.99 million.
ERAS Stock Performance and Moving Averages
In recent trading, Erasca Inc (ERAS) stock price has shown some volatility, fluctuating 8.36% over the last five trades and 13.09% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 63.68%, and it has gained 19.62% in the previous three months. Currently, ERAS is trading at 10.34%, 11.72%, and 28.04% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, ERAS, a Healthcare sector stock, is trading -9.86% below its 52-week high but remains 105.96% above its 52-week low. The Average True Range (ATR) (14 days) of 0.19 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Erasca Inc’s Profitability and Valuation Ratios
Erasca Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 0.00% with a gross margin of 63.68%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Erasca Inc’s market capitalization stands at $887.06 million. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Book Ratio is 1.88, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 37.92% of Erasca Inc (ERAS)’s shares, while financial institutions hold 50.98%.
