Erasca (ERAS) Climbs to 3-Year High as Analyst Hikes PT by 83%

Core Insights - Erasca Inc. (NASDAQ:ERAS) experienced a significant stock price increase, reaching a three-year high following an 83% price target upgrade by HC Wainwright, raising it from $6 to $11 while maintaining a "buy" recommendation [1][2]. Group 1: Stock Performance - On the day of the announcement, Erasca's stock price peaked at $7.56 during intra-day trading, ultimately closing at $7.51, reflecting a 20.47% increase [1]. - The stock's performance is attributed to positive investor sentiment following the price target upgrade [1]. Group 2: Clinical Data Presentation - The price target upgrade coincided with Erasca's presentation of preliminary clinical data at the 44th Annual JP Morgan Healthcare Conference, where the company reported two confirmed partial responses and one unconfirmed partial response for its drug ERAS-0015 [3]. - Additional unconfirmed responses were noted in patients receiving 8 mg doses, with consistent pharmacokinetics observed across all evaluated dose levels [4]. Group 3: Future Expectations - Topline results from the ongoing clinical study are expected to be released in the first half of 2026, indicating a timeline for further developments in the company's drug pipeline [4].