Stifel raised the firm’s price target on Erasca (ERAS) to $6 from $4 and keeps a Buy rating on the shares. The firm notes the company announced issuance of composition of matter patent for lead pan-RAS program ERAS-0015. Stifel views this as a significant de-risking event. The firm notes that no large pharma company, to its knowledge, has brought forward a pan-RAS molecular glue even in the wake of Revolution Medicines’ (RVMD) pan-RAS dominance.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ERAS:
- Erasca announces issuance of U.S. patent covering ERAS-0015
- Erasca, Inc. Advances with Promising Phase 1 Study on ERAS-4001
- Erasca, Inc. Advances in Cancer Treatment with ERAS-0015 Study
- Erasca’s SEACRAFT-2 Study: A Promising Step in Melanoma Treatment
- Erasca’s Strategic Positioning and Growth Potential in the RAS Inhibitor Market: Analyst Recommends ‘Buy’ with $4 Price Target