Erasca price target raised to $5 from $4 at Mizuho

Mizuho raised the firm’s price target on Erasca (ERAS) to $5 from $4 and keeps an Outperform rating on the shares. The firm is “increasingly encouraged and constructive” on the RAS space and is bullish on Erasca ahead of its first U.S. Phase 1 clinical data for its two lead assets, ERAS-0015 and ERAS-4001. Mizuho sees large addressable markets for both candidates and notes that data is expected in 2026. The analyst sees an attractive risk/reward at current share levels.