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Erasca, Inc. (ERAS) Gains But Lags Market: What You Should Know

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Erasca, Inc. (ERAS) closed the most recent trading day at $8.11, moving +1.88% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.62%. Meanwhile, the Dow gained 1.37%, and the Nasdaq, a tech-heavy index, added 0.25%.

Coming into today, shares of the company had gained 47.13% in the past month. In that same time, the Medical sector lost 0.12%, while the S&P 500 gained 0.24%.

Investors will be hoping for strength from Erasca, Inc. as it approaches its next earnings release. In that report, analysts expect Erasca, Inc. to post earnings of -$0.34 per share. This would mark year-over-year growth of 71.67%.

Investors should also note any recent changes to analyst estimates for Erasca, Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% higher. Erasca, Inc. is holding a Zacks Rank of #2 (Buy) right now.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ERAS in the coming trading sessions, be sure to utilize Zacks.com.


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