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

Core Insights - Erasca, Inc. (NASDAQ:ERAS) is recognized as one of the 11 best performing stocks over the last 12 months [1] - Mizuho initiated coverage of Erasca with an 'Outperform' rating and a price target of $16, reflecting confidence in the company's RAS-targeted therapies [2][3] - Guggenheim raised its price target for Erasca from $5 to $12 while maintaining a 'Buy' rating, citing updates on key drug candidates and a recent financing round [4] - Morgan Stanley increased its price target from $4 to $10, reiterating an 'Equal Weight' rating, indicating a cautious but positive outlook [5] Company Developments - Erasca focuses on developing precision oncology therapies targeting RAS/MAPK-driven cancers, founded in 2018 and based in San Diego [5] - The company announced a public offering of 25,875,000 shares, raising $258.8 million in gross proceeds [4] Clinical Pipeline - Mizuho highlighted ERAS-0015 for its tolerable dosing and competitive clinical profile, predicting proof-of-concept establishment in 2026 [3] - Guggenheim projects a 30% chance of success for ERAS-0015 in treating second-line and later non-small cell lung cancer (NSCLC) and pancreatic ductal adenocarcinoma (PDAC), with a potential commercial launch in 2030 [4]