Erasca price target raised to $10 from $4 at Morgan Stanley

Morgan Stanley analyst Sean Laaman raised the firm’s price target on Erasca (ERAS) to $10 from $4 and keeps an Equal Weight rating on the shares after the company shared an early clinical look at ERAS-0015 and reported two confirmed partial responses and one unconfirmed PR at 8 mg QD. While these data are “promising” and the firm raised its view of the odds of success as a result, it acknowledges “it remains early.”