Erasca (ERAS) Climbs to 3-Year High as Analyst Hikes PT by 83%

We recently published 10 Stocks Leaving Wall Street in the Dust; 4 Hit Fresh Records. Erasca Inc. (NASDAQ:ERAS) was one of the top performers on Tuesday.

Erasca soared to an over three-year high on Tuesday, as investors took heart from an investment firm’s 83 percent price target upgrade for its stock.

At intra-day trading, Erasca Inc. (NASDAQ:ERAS) jumped to its highest price of $7.56 before paring gains to finish the day just up by 20.47 percent at $7.51 apiece.

The rally followed HC Wainwright’s raising of its price target for the company to $11 from $6 previously, while reaffirming its “buy” recommendation.

The upgrade followed Erasca Inc.’s (NASDAQ:ERAS) presentation of preliminary clinical data at the 44^th Annual JP Morgan Healthcare Conference on Tuesday, saying that it saw two confirmed partial responses and one unconfirmed partial response during the clinical study of its pan-RAS molecular glue degrader ERAS-0015.

In addition, more unconfirmed responses were observed in patients taking 8 mg doses, with consistent, linear pharmacokinetics across all dose levels evaluated and no evidence of exposure plateau so far.

The topline results are scheduled to be released in the first half of 2026.

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Disclosure: None. This article is originally published at Insider Monkey.