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Erasca
(NASDAQ:ERAS)
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Rating:48Neutral
Price Target:
$15.50
▼(-20.47% Downside)
Action:Reiterated
Date:10/09/26
The score is primarily constrained by weak financial performance (no revenue, widening TTM losses, and persistent cash burn) and limited valuation support (negative P/E and no dividend). Technical signals are mixed/neutral. Corporate events are a partial offset, with Fast Track designation and promising early clinical data balanced by dilution risk from a sizable equity raise.
Positive Factors
Low leverage
Low leverage gives Erasca more financial flexibility than highly indebted development-stage peers. The relatively modest debt burden may reduce near-term solvency pressure and preserve capacity to direct available capital toward clinical development and other operating priorities.
Negative Factors
Pre-revenue business model
With no current revenue base, Erasca cannot absorb substantial research, clinical, and corporate costs through commercial operations. Its future funding capacity therefore depends on successful development, regulatory approval, commercialization, or potential collaboration arrangements.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Low leverage gives Erasca more financial flexibility than highly indebted development-stage peers. The relatively modest debt burden may reduce near-term solvency pressure and preserve capacity to direct available capital toward clinical development and other operating priorities.
Read all positive factors
Erasca (ERAS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.61B
Dividend YieldN/A
Average Volume (3M)4.95M
Price to Earnings (P/E)―
Beta (1Y)1.83
Revenue GrowthN/A
EPS Growth-110.63%
CountryUS
Employees103
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.95
Shares Outstanding349,762,020
10 Day Avg. Volume5,438,400
30 Day Avg. Volume4,948,109
Financial Highlights & Ratios
PEG Ratio0.23
Price to Book (P/B)3.24
Price to Sales (P/S)0.00
P/FCF Ratio-11.03
Enterprise Value/Market Cap0.98
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-3.74K
Enterprise Value/Ebitda-19.28
Forecast
1Y Price Target
$24.13Price Target Upside23.78% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-0.97
Revenue Forecast (FY)N/A
Erasca Business Overview & Revenue Model
Company Description
Erasca, Inc. is a biopharmaceutical company in the clinical development stage, primarily focused on identifying, advancing, and commercializing therapeutic solutions for malignancies propelled by the RAS/MAPK pathway. The firm's pipeline features ...
How the Company Makes Money
As a clinical-stage biotechnology company, Erasca has not historically relied on recurring product sales as a primary revenue source (product-revenue details: null). Its funding has primarily come from external financing—such as issuing equity (e....
Erasca Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.47M | -3.11M | 0.00 | -3.73M | -2.64M | -829.00K |
| EBITDA | -284.29M | -121.44M | -153.28M | -121.31M | -240.16M | -121.94M |
| Net Income | -287.22M | -124.55M | -161.65M | -125.04M | -242.81M | -122.76M |
Balance Sheet | ||||||
| Total Assets | 435.05M | 396.15M | 502.53M | 395.30M | 514.91M | 501.42M |
| Cash, Cash Equivalents and Short-Term Investments | 268.74M | 276.07M | 298.31M | 312.35M | 435.62M | 414.48M |
| Total Debt | 44.71M | 47.14M | 51.89M | 55.86M | 55.10M | 18.79M |
| Total Liabilities | 73.19M | 70.98M | 79.03M | 78.61M | 103.06M | 44.89M |
| Stockholders Equity | 361.87M | 325.17M | 423.50M | 316.69M | 411.85M | 456.53M |
Cash Flow | ||||||
| Free Cash Flow | -98.08M | -95.58M | -131.98M | -102.99M | -119.81M | -98.48M |
| Operating Cash Flow | -98.02M | -95.45M | -109.42M | -101.22M | -103.26M | -79.60M |
| Investing Cash Flow | -173.92M | 100.42M | -156.62M | -91.22M | -71.08M | -64.59M |
| Financing Cash Flow | 248.34M | 1.10M | 240.70M | 1.29M | 98.08M | 439.40M |
Erasca Technical Analysis
Positive
19.49
Price Trends
16.50
Negative
16.24
Negative
14.32
Positive
Market Momentum
-0.34
Negative
50.55
Neutral
84.57
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ERAS, the sentiment is Positive. The current price of 19.49 is above the 20-day moving average (MA) of 14.87, above the 50-day MA of 16.50, and above the 200-day MA of 14.32, indicating a neutral trend. The MACD of -0.34 indicates Negative momentum. The RSI at 50.55 is Neutral, neither overbought nor oversold. The STOCH value of 84.57 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ERAS.
Erasca Risk Analysis
Erasca disclosed 88 risk factors in its most recent earnings report. Erasca reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Erasca Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $3.48B | -18.81 | -16.47% | ― | 3244.67% | 49.14% | |
58 Neutral | $942.98M | -3.15 | -207.18% | ― | -7.27% | -48.89% | |
55 Neutral | $3.92B | -11.39 | -42.27% | ― | 23.86% | 19.60% | |
54 Neutral | $1.76B | -11.51 | -49.73% | ― | 1083.56% | 30.89% | |
53 Neutral | $1.37B | -8.31 | -46.39% | ― | ― | -33.90% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $5.61B | -16.87 | -80.43% | ― | ― | -110.63% |
* Healthcare Sector Average
ERAS
Erasca
15.46
13.06
544.17%
KURA
Kura Oncology
10.40
0.46
4.68%
IDYA
IDEAYA Biosciences
36.06
9.29
34.70%
RLAY
Relay Therapeutics
17.98
11.71
186.76%
NUVB
Nuvation Bio
4.90
1.22
33.15%
TYRA
Tyra Bioscience
19.60
5.24
36.49%
Erasca Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Erasca Wins FDA Fast Track for Pancreatic Therapy
Positive
Aug 24, 2026
On August 24, 2026, Erasca, Inc. reported that the U.S. Food and Drug Administration granted Fast Track Designation to its investigational therapy ERAS-0015 for patients with metastatic pancreatic adenocarcinoma. This designation, intended for ser...
Business Operations and StrategyExecutive/Board Changes
Erasca Bolsters R&D Leadership With New President Appointment
Positive
Aug 10, 2026
On August 10, 2026, Erasca appointed Charles S. Fuchs, M.D., M.P.H., a veteran oncology leader with extensive experience at Tubulis, Genentech, Roche, Yale and Dana-Farber, as President, Research Development, signaling a strategic strengthening o...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Erasca Announces Major Equity Offering to Fund Oncology
Positive
Jul 15, 2026
On July 13, 2026, Erasca, Inc. entered into an underwriting agreement with a syndicate led by J.P. Morgan, Morgan Stanley, Jefferies and Evercore for a public offering of 31,428,572 shares of common stock at $17.50 per share, with underwriters pur...
Business Operations and StrategyProduct-Related Announcements
Erasca Reports Promising ERAS-0015 Data in Solid Tumors
Positive
Jul 13, 2026
On July 13, 2026, Erasca reported updated preliminary Phase 1 data from its AURORAS-1 trial of ERAS-0015 in RAS-mutant solid tumors, showing encouraging monotherapy activity in second-line and later KRAS G12X pancreatic ductal adenocarcinoma, with...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.