BofA raised the firm’s price target on Erasca (ERAS) to $9 from $2 and keeps an Underperform rating on the shares. Following “highly-anticipated” data for ERAS0015, the firm thinks ERAS-0015 “looks like a contender” in both PDAC and NSCLC, but “may not be the homerun data some investors were hoping for.” The firm thinks clear differentiation, especially on the efficacy side, may be needed for widespread use given Revolution Medicines’ (RVMD) first mover advantage and potential emerging assets, the analyst added.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ERAS:
- Analyst Maintains Buy on ERAS-0015’s Promising Early Data, Keeps Price Target Unchanged at $20
- Closing Bell Movers: Sanmina jumps over 10% on earnings beat
- Erasca Reports Encouraging Phase 1 Data for ERAS-0015
- Erasca announces preliminary dose escalation data for ERAS-0015
- Erasca believes Revolution infringement claims ‘without merit,’ says Stifel