Erasca Inc (ERAS) PT Raised to $20 at H.C. Wainwright

H.C. Wainwright analyst Andres Y. Maldonado raised the price target on Erasca Inc (NASDAQ: ERAS) to $20.00 (from $15.00) while maintaining a Buy rating.

The analyst commented: "With lead pan-RAS asset ERAS-0015 advancing in the clinic, Erasca is well-positioned for a data-rich 2026. As of January 2026, two confirmed partial responses (PRs) and one unconfirmed PR were reported in patients with different tumor types and RAS mutations at doses above 8 mg QD. Pharmacokinetics were linear across all doses with no dose-limiting toxicities observed. Thus far, enrollment kinetics for AURORAS-1 Phase 1 dose escalation have exceeded expectations, with management citing strong operational execution and high investigator enthusiasm for patients with high unmet need. Our previous discussions with KOLs echo this sentiment, suggesting that the clinical activity observed at low absolute doses is likely an indicator of clinically meaningful pathway suppression (view note here), a feature that is unusual for pan-RAS strategies. Although preliminary, these data support proof of concept and align with ERAS-0015’s preclinical differentiation, particularly its ability to drive tumor regression in colorectal and pancreatic models that are often resistant to RAS inhibition. Topline Phase 1 monotherapy data from US and China is anticipated in 1H26. Additionally, initiation of monotherapy expansion and combination dose-escalation cohorts planned for 2H26 with data expected in 2027. For pan KRAS inhibitor ERAS-4001, initial Phase 1 monotherapy data in KRAS-mutant solid tumors (BOREALIS-1) is anticipated for 2H26 with initial monotherapy dose expansion as well as combination dose escalation planned for 2027. In our view, ERAS-0015’s ability to sustain deep RAS pathway suppression within an acceptable therapeutic window supports potential best-in-class pan-RAS activity that can meaningfully usurp market share from first-movers. Hence, we reiterate our Buy rating and increase our PT to $20 from $15."

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