Erasca (ERAS) Touches 3-Year High as 4 Analysts Go Bullish; Gets 267% PT Hike

We recently published 10 Stock With Eye-Popping Gains; 5 Are on Fresh Highs. Erasca Inc. (NASDAQ:ERAS) was one of the top performers on Thursday.

Erasca notched another three-year high anew on Thursday, as investor sentiment continued to be fueled by four investment firms’ bullish outlooks for its stock, with the company earning a price target upgrade of as much as 267 percent.

At intra-day trading, Erasca Inc. (NASDAQ:ERAS) touched a new record high of $9.72 before trimming a few cents to finish the session just up by 15.04 percent at $9.56 apiece.

The rally followed a flurry of positive coverage from Clear Street, HC Wainwright, Piper Sandler, and Stifel, with the said analysts issuing “buy” and “overweight” ratings for the stock.

Among the four, Clear Street became the most bullish, raising its price target by 267 percent to $11 from $3 previously, while maintaining a “buy” recommendation.

Meanwhile, HC Wainwright also gave a price target of $11 versus $6 previously, with a “buy” recommendation, following Erasca Inc.’s (NASDAQ:ERAS) positive preliminary results from the clinical study of its pan-RAS molecular glue degrader ERAS-0015. The topline results are scheduled to be released in the first half of 2026.

Earlier this month, Erasca Inc. (NASDAQ:ERAS) also received a $10 price target from Stifel, higher than the $6 previously, with the investment firm maintaining a “buy” recommendation.

Piper Sandler, for its part, initiated coverage for the company with an “overweight” rating but gave a much lower price target of just $5.

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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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