Analyst Andres Y. Maldonado of H.C. Wainwright maintained a Buy rating on Erasca (ERAS – Research Report), with a price target of $6.00.
Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight Erasca’s innovative approach in the competitive RAS inhibitor landscape. Erasca’s RAS platform, particularly ERAS-0015 and ERAS-4001, distinguishes itself by targeting a broader spectrum of RAS mutations with novel mechanisms of action. ERAS-0015 acts as a pan-RAS molecular glue, stabilizing an inactive RAS complex and inhibiting both mutant and wild-type RAS in its active state, unlike existing inhibitors that target only specific mutations.
ERAS-4001, meanwhile, serves as a direct pan-KRAS inhibitor, effectively targeting multiple KRAS mutants and its wild-type form, while sparing HRAS and NRAS. The preclinical data for these programs are compelling, with ERAS-0015 showing higher potency and efficacy at lower doses compared to competitors, and ERAS-4001 demonstrating significant tumor shrinkage in models of pancreatic and lung cancers. These attributes suggest that Erasca’s candidates could offer best-in-class and first-in-class therapeutic options, providing a strong foundation for potential clinical success and investor value.
Y. Maldonado covers the Healthcare sector, focusing on stocks such as ImmunityBio, Corbus Pharmaceuticals, and Scholar Rock Holding. According to TipRanks, Y. Maldonado has an average return of 0.2% and a 34.15% success rate on recommended stocks.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $5.00 price target.
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