Erasca, Inc. (ERAS) Gains As Market Dips: What You Should Know
Erasca, Inc. (ERAS) closed the most recent trading day at $6.72, moving +1.05% from the previous trading session. This change outpaced the S&P 500's 0.84% loss on the day. Elsewhere, the Dow lost 0.69%, while the tech-heavy Nasdaq lost 0.07%.
Heading into today, shares of the company had gained 34.89% over the past month, outpacing the Medical sector's gain of 6.79% and the S&P 500's gain of 2.02% in that time.
Wall Street will be looking for positivity from Erasca, Inc. as it approaches its next earnings report date. The company is expected to report EPS of -$0.34, up 71.67% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Erasca, Inc.These recent revisions tend to reflect the evolving nature of short-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% 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 industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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