Erasca price target raised to $11 from $3 at Clear Street

Clear Street raised the firm’s price target on Erasca (ERAS) to $11 from $3 and keeps a Buy rating on the shares. The company is seeing responses with ERAS-0015 in its Phase 1 trial at roughly one-tenth the dose where first clinical responses were observed with daraxonrasib, including two cPRs and one uPR at 8 mg QD across multiple tumor types and RAS mutations, the analyst tells investors in a research note. A clean safety profile-with no Dose-Limiting Toxicity, predominantly low-grade adverse effects, and well-behaved linear PK – Pharmacokinetics – without evidence of an exposure plateau-reinforces ERAS-0015’s differentiation and potential superiority over RMC-6236 as a pan-RAS molecular glue, the firm added.