Erasca assumed with an Overweight at Morgan Stanley

Morgan Stanley analyst Sean Laaman assumed coverage of Erasca (ERAS) with an Overweight rating and $4 price target The firm sees potential upside from naporafenib and readthroughs in the (K)RAS space, the analyst tells investors in a research note. Morgan Stanley also says it is encouraged by the preclinical profiles of ERAS-0015 and ERAS-4001, but notes that it will take time for clinical data to be generated.