Erasca (ERAS) Hits Fresh High Anew as Firm Gets up to 267% PT Hike

Core Viewpoint - Erasca Inc. (NASDAQ:ERAS) has experienced significant stock price increases, reaching a new three-year high, driven by optimistic price target revisions from investment firms and positive preliminary clinical data [1][4]. Group 1: Stock Performance - Erasca's stock rose by 10.73% to close at $8.31 after hitting an intra-day high of $8.45 [1]. - The company has seen a remarkable increase in price targets, with one firm raising it to $11 from $3, and another to $11 from $6, both maintaining a "buy" recommendation [2][3]. Group 2: Clinical Data and Market Sentiment - The positive market sentiment is bolstered by preliminary clinical data presented at the 44th Annual JP Morgan Healthcare Conference, which reported two confirmed partial responses and one unconfirmed partial response for its drug ERAS-0015 [4]. - Additional unconfirmed responses were noted in patients receiving 8 mg doses, with consistent pharmacokinetics observed across all evaluated dose levels [5].