Capital One starts Erasca with Overweight into key data catalysts

Capital One analyst Naureen Quibria initiated coverage of Erasca with an Overweight rating and $8 price target. Erasca over the next nine months has several key clinical data catalysts which will further de-risk the company’s assets if positive and unlock value in the stock, the analyst tells investors in a research note. The firm says that in addition to a pipeline of early-stage drug candidates to address RAS-driven cancers, Erasca has three viable clinical-stage assets: naporafenib, ERAS-007 and ERAS-801, which reduces any binary risk from a single asset to drive value.