Down -25.4% in 4 Weeks, Here's Why You Should You Buy the Dip in Erasca (ERAS)

Core Viewpoint - Erasca, Inc. (ERAS) has experienced significant selling pressure, resulting in a 25.4% decline in stock price over the past four weeks, but analysts anticipate improved earnings reports in the near future [1] Group 1: Stock Performance and Technical Indicators - The stock is currently in oversold territory, indicated by an RSI reading of 22.16, suggesting a potential trend reversal [5] - The Relative Strength Index (RSI) is a momentum oscillator that helps identify oversold conditions when the reading falls below 30 [2][3] Group 2: Earnings Estimates and Analyst Sentiment - There has been a consensus among sell-side analysts to raise earnings estimates for ERAS, resulting in a 1% increase in the consensus EPS estimate over the last 30 days [6] - ERAS holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating strong potential for a turnaround [7]