Erasca, Inc. (ERAS) Outpaces Stock Market Gains: What You Should Know
Erasca, Inc. (ERAS) closed at $6.16 in the latest trading session, marking a +1.65% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.23%, while the tech-heavy Nasdaq lost 0.1%.
Coming into today, shares of the company had gained 5.76% in the past month. In that same time, the Medical sector lost 0.99%, while the S&P 500 lost 6.59%.
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%.
Any recent changes to analyst estimates for Erasca, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Erasca, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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