# Erasca, Inc. (ERAS)

> Source: Nexqual · https://nexqual.com/ERAS · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Erasca, Inc. (ERAS), nexqual.com/ERAS" · informational, not investment advice.

**Price:** USD 15.12 (-0.66% on the day) · last close of Oct 28, 2026; US market closed, not a live price. Prev close 15.22 · day 14.45–15.32 · 52w 2.11–24.28 · market cap $5.29B · NMS

## Key facts
- Analysts: Buy (mean 2.00 on a 1–5 scale) (9 analysts), mean target USD 24.11 (range 20–33).
- Next earnings: 2026-11-11, EPS estimate USD -0.13, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$125M | -$247M | -$142M | -$180M | -$141M | -$303M |
| Net income | -$123M | -$243M | -$125M | -$162M | -$125M | -$287M |
| EPS (diluted) | -$1.85 | -$1.99 | -$0.83 | -$0.69 | -$0.44 | — |
| Free cash flow | -$90.8M | -$118M | -$103M | -$109M | -$95.6M | -$98.1M |
| Cash + short-term investments | $415M | $436M | $312M | $298M | $342M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 14.6x · FCF yield -1.85% · Earnings yield -5.43%

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 9 analysts; mean target USD 24.11 (low 20, high 33).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-14 | B of A Securities | Target raised | Neutral | $18 → $20 |
| 2026-08-13 | Guggenheim | Target raised | Buy | $20 → $21 |
| 2026-08-12 | HC Wainwright & Co. | Target raised | Buy | $18 → $22 |
| 2026-07-20 | Morgan Stanley | Target raised | Equal-Weight | $12 → $21 |
| 2026-07-14 | B of A Securities | Target raised | Neutral | $16 → $18 |

## More
Full page: https://nexqual.com/ERAS · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.13 | $-0.12 | −$0.01 | $0 | 8 |
| Next quarter (ends 2026-12-31) | $-0.13 | $-0.14 | $0.00 | $0 | 8 |
| Current fiscal year (ends 2026-12-31) | $-0.98 | $-0.97 | −$0.01 | $0 | 8 |
| Next fiscal year (ends 2027-12-31) | $-0.62 | $-0.57 | −$0.05 | $0 | 8 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.14 | −$0.11 | Miss −27.3% | — |
| — | Quarter ended Mar 31, 2026 | −$0.60 | −$0.23 | Miss −160.9% | — |
| — | Quarter ended Dec 31, 2025 | −$0.10 | −$0.11 | Beat +9.1% | — |
| — | Quarter ended Sep 30, 2025 | −$0.11 | −$0.11 | In line | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-16 | 8-K | Director or executive officer change, or pay arrangement — “On October 15, 2026, Erasca, Inc. (the Company) decided to realign its leadership responsibilities to support the development and potential commercialization of its RAS-targeting programs. Responsibilities currently overseen by the Chief Operating Officer are transitioning to other members of the Company's leadership team in order to streamline the Company's reporting structure. Accordingly, the employment of Nicholas (Nik) Chetwyn, Ph.D., the Company's Chief Operating Officer, will terminate effective November 2,…” | https://www.sec.gov/Archives/edgar/data/1761918/000119312526423433/0001193125-26-423433-index.htm |
| 2026-08-24 | 8-K | Other material event — “On August 24, 2026, Erasca, Inc. (the "Company") announced that the U.S. Food and Drug Administration ("FDA") has granted Fast Track Designation ("FTD") to ERAS-0015 for the treatment of patients with metastatic pancreatic adenocarcinoma. FTD is intended to facilitate development and expedite the review of therapies for serious conditions with unmet medical needs. Designated programs may benefit from more frequent interactions with the FDA and, if relevant criteria are met, may be eligible for benefits such as…” | https://www.sec.gov/Archives/edgar/data/1761918/000119312526361895/0001193125-26-361895-index.htm |
| 2026-08-14 | Schedule 13G/A | City Hill, LLC, Jonathan E. Lim: 10.4% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1761918/000119312526352396/0001193125-26-352396-index.htm |
| 2026-08-11 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1761918/000119312526344611/0001193125-26-344611-index.htm |
| 2026-08-11 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1761918/000119312526344584/0001193125-26-344584-index.htm |
| 2026-08-10 | 8-K | Director or executive officer change, or pay arrangement — “Appointment of President, Research & Development Effective August 10, 2026, Charles S. Fuchs, M.D., M.P.H., was appointed President, Research & Development of Erasca, Inc. ("the Company"). Dr. Fuchs, age 66, is a distinguished physician-scientist and internationally recognized leader in oncology with more than three decades of leadership experience in cancer research, clinical care, and biopharmaceutical drug development. From December 2025 to August 2026, he served as Chief Medical Officer of Tubulis GmbH…” | https://www.sec.gov/Archives/edgar/data/1761918/000119312526342669/0001193125-26-342669-index.htm |
| 2026-07-14 | 8-K | Other material event — “On July 13, 2026, Erasca, Inc. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Jefferies LLC and Evercore Group L.L.C., as representatives of the several underwriters named therein (collectively, the "Underwriters"), relating to the issuance and sale of 31,428,572 shares (the "Shares") of the Company's common stock, par value $0.0001 per share (the "Common Stock") at an offering price to the public of $17.50 per Share.…” | https://www.sec.gov/Archives/edgar/data/1761918/000119312526303357/0001193125-26-303357-index.htm |
| 2026-07-13 | 8-K | Other material event — “On July 13, 2026, Erasca, Inc. (the "Company") announced updated preliminary Phase 1 data for its potentially best-in-class, pan-RAS molecular glue ERAS-0015 in patients with RAS-mutant solid tumors. Updated preliminary data from the Company's ongoing AURORAS-1 Phase 1 trial in the U.S. builds on the Company's April 2026 announcement, with additional patients and longer follow-up. Additional Results from AURORAS-1 Trial Encouraging Monotherapy Responses Observed in Second Line or Greater ("2L+") KRAS G12X…” | https://www.sec.gov/Archives/edgar/data/1761918/000119312526302045/0001193125-26-302045-index.htm |
| 2026-07-01 | 8-K | Shareholder vote results | https://www.sec.gov/Archives/edgar/data/1761918/000119312526290881/0001193125-26-290881-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.