Erasca Inc. shares reached a new three-year high during trading on Thursday. The stock climbed as high as $9.72 before closing at $9.56, a gain of 15.04 percent for the session.
Four investment firms published positive outlooks on the company's stock. Clear Street, HC Wainwright, Piper Sandler, and Stifel all issued "buy" or "overweight" ratings.
Clear Street raised its price target for Erasca to $11, a 267 percent increase from its previous target of $3. The firm maintained a "buy" recommendation.
HC Wainwright also set a price target of $11, up from $6, with a "buy" rating. This followed the company's announcement of positive preliminary results from a clinical study for its drug candidate ERAS-0015. Full results from that study are expected in the first half of 2026.
Stifel assigned a price target of $10, higher than its previous target of $6, and kept a "buy" recommendation. Piper Sandler initiated coverage with an "overweight" rating but gave a lower price target of $5.