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Saturday, June 3, 2023

Erasca Inc. (ERAS) Is Not Likely To Be The Same Tomorrow

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. After-hours trades for Erasca Inc. (ERAS) shows that investor sentiment remained same, with the stock’s consolidated last price remained same to $2.80. The Erasca Inc. has recorded 16,509 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Erasca to Present at the Bank of America Securities 2023 Health Care Conference.

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Stocks Info

Erasca Inc. is listed on the NASDAQ in the Healthcare sector while operating in the Biotechnology industry. At the end of the last regular session, the stock closed at $2.80 and fluctuated between $2.8650 as its day high and $2.6950 as its day low. The current market capitalization of Erasca Inc. is $398.69M. A total of 0.71 million shares were traded on the day, compared to an average of 1.02M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, ERAS has seen 2 BUY and 0 SELL insider trades, representing the acquisition of 120,000 and the disposition of 0 shares. Over the last 12 months, there were 15 BUYs and 2 SELLs from insiders. Insiders purchased 891,274 shares during that period but sold 2,750,006.

In the most recent transaction, Casdin Alexander W. bought 20,000 shares of ERAS for 2.76 per share on Apr 10. After the transaction, the Director now owns 463,974 company shares. In a previous transaction on Mar 28, Lim Jonathan E bought 100,000 shares at 2.84 per share. ERAS shares that Chairman & CEO owns now total 18,296,216.

Among the insiders who bought shares, Lim Jonathan E acquired of 60,000 shares on Jan 10 at a per-share price of $3.86. This resulted in the Chairman & CEO holding 20,256,222 shares of ERAS after the transaction. In another insider transaction, Bristol James Arthur bought 20,000 shares at $4.14 per share on Dec 21. Company shares held by the Director now total 20,000.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for ERAS in the last 3 months, the mean price target is $14.17 with high estimates of $20.00 and low estimates of $9.00. In terms of 52-week highs and lows, ERAS has a high of $10.74 and a low of $2.49.

As of this writing, ERAS has an earnings estimate of $-0.31 per share for the current quarter. EPS was calculated based on a consensus of 5 estimates, with a high estimate of $-0.25 per share and a lower estimate of $-0.41. The company reported an EPS of $-0.29 in the last quarter, which was 6.50% higher than expectations of $-0.31.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information. ERAS’s latest balance sheet shows that the firm has $459.25M in Cash & Short Term Investments as of fiscal 2021. There were $18.79M in debt and $26.38M in liabilities at the time. Its Book Value Per Share was $3.23, while its Total Shareholder’s Equity was $456.53M.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 7 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for ERAS is Overweight with a score of 5.00. A total of 7 analysts rated the stock as Buy while 0 rated it as Overweight while 0 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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