Analyst Maintains Buy on ERAS-0015’s Promising Early Data, Keeps Price Target Unchanged at $20

Analyst Andres Y. Maldonado of H.C. Wainwright maintained a Buy rating on Erasca, retaining the price target of $20.00.

Andres Y. Maldonado has given his Buy rating due to a combination of factors tied to ERAS-0015’s emerging profile and valuation. The Phase 1 results show notably higher-than-anticipated response rates in key NSCLC settings and directionally encouraging activity in PDAC, with most responders still on therapy, suggesting early but promising durability. Robust pharmacokinetic and pharmacodynamic data, including dose-proportional exposure through 40 mg and uniform, deep ctDNA declines, reinforce the view that ERAS-0015 delivers consistent and meaningful pathway inhibition.

At the same time, the tolerability appears generally better than historical class experience, with low-grade adverse events, minimal dose modifications, and no treatment-related discontinuations in the core dataset, even though the pneumonitis-related death tempers a fully clean safety narrative. Maldonado also acknowledges added uncertainty from ongoing intellectual property and litigation issues, which may pressure the stock near term, but he believes the strength of the early clinical signal and mechanistic differentiation are not fully reflected in the current share price. With conviction that ERAS-0015 is a credible, potentially differentiated pan-RAS contender, he maintains a Buy rating and leaves his $20 price target unchanged.

In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $28.00 price target.