JPMorgan added Erasca (ERAS) to the firm’s “Positive Catalyst Watch list” ahead of the initial Phase 1 AURORAS-1 readout for ERAS-0015 in RAS-mutant solid tumors, which is expected in the first half of 2026. JPMorgan sees a high probability of an upside scenario playing out. The analyst sees “multiple ways to win” in the initial ERAS-0015 update. In “win scenarios,” the firm sees share upside into the high-teens to high-$20s per share. JPMorgan keeps an Overweight rating on Erasca and established a year-end 2026 price target of $24.
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