Mizuho Initiates Erasca (ERAS) With 'Outperform' Rating and $16 PT

Erasca, Inc. (NASDAQ:ERAS) is one of the 11 Best Performing Stocks in the Last 12 Months.

This week, Erasca, Inc. (NASDAQ:ERAS) received strong analyst support amid progress in its RAS inhibitor portfolio.

On January 27, 2026, Mizuho initiated coverage of Erasca, Inc. (NASDAQ:ERAS) with an ‘Outperform’ rating and a $16 price target. The firm’s bullish stance reflects its confidence in the company’s potential to establish proof-of-concept for its RAS-targeted therapies in 2026. Specifically, the firm highlighted ERAS-0015 due to its ability to work well at tolerable doses, alongside its competitive clinical profile.

On the same day, Erasca, Inc. (NASDAQ:ERAS) received attention from Guggenheim, which raised its price target on the stock from $5 to $12 while keeping its ‘Buy’ rating. The increase in confidence reflects updates on ERAS-0015, ERAS-4001, and the recently announced financing. Predicting a 30% chance of success for ERAS-0015 in second-line and later NSCLC and PDAC, the firm projects a 2030 commercial launch. On January 23, the company had announced an upsized public offering of 25,875,000 shares of its common stock, raising $258.8 million in gross proceeds.

Additionally, on January 26, 2026, Morgan Stanley increased its price target on Erasca, Inc. (NASDAQ:ERAS) from $4 to $10, while reiterating an ‘Equal Weight’ rating.

Erasca, Inc. (NASDAQ:ERAS) focuses on developing precision oncology therapies that target RAS/MAPK-driven cancers. The company was founded in 2018 and is based in San Diego.

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