Erasca (ERAS) Soars 42% on Bullish Rating, PT Upgrade

We recently published 10 Stock Winners Shocking Wall Street. Erasca Inc. (NASDAQ:ERAS) was one of the top performers last week.

Erasca soared by 42.3 percent week-on-week to hit a new three-year high, as investor sentiment was fueled by four investment companies’ bullish coverage for its stock.

Last week, the stock received “buy” and “overweight” recommendations from Clear Street, HC Wainwright, Piper Sandler, and Stifel.

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) 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.

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