Erasca (ERAS) Hits Fresh High Anew as Firm Gets up to 267% PT Hike

We recently published 10 Big Names Delivering Outsized Gains. Erasca Inc. (NASDAQ:ERAS) was one of the top performers on Wednesday.

Erasca extended gains to a second day on Wednesday to hit a new three-year high, as investors continued to load up on shares after earning 267 percent and 83 percent higher price targets from two investment companies.

At intra-day trading, the stock soared to its highest price of $8.45 before trimming a few cents to end the day just up by 10.73 percent at $8.31 apiece.

In an updated market report, Clear Street raised its price target for the company to $11 from $3 previously, while maintaining a “buy” recommendation for its stock.

Meanwhile, it was also issued a new price target of $11 from HC Wainwright, versus $6 previously, while reaffirming its “buy” recommendation.

HC Wainwright’s coverage reflected its optimism for Erasca Inc. (NASDAQ:ERAS) following its 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.

While we acknowledge the potential of ERAS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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