5 Best Performing Stocks of Q1 2026 to Watch for Q2

1. Erasca, Inc. (NASDAQ:ERAS)

Q1 2026 Performance: 350.70%

Erasca, Inc. (NASDAQ:ERAS) is one of the best-performing stocks of Q1 2026 to watch for Q2. On March 12, H.C. Wainwright increased its price target on Erasca, Inc. (NASDAQ:ERAS) from $15 to $20 and kept its Buy rating on the stock.

The research firm pointed to Erasca, Inc.’s (NASDAQ:ERAS) clinical progress with its lead pan-RAS asset, ERAS-0015. As of January 2026, the drug showed encouraging results, with two confirmed partial responses and one unconfirmed partial response in patients with different tumor types and RAS mutations. These results were seen at doses above 8 mg once daily. The drug also showed consistent behavior across doses, with no dose-limiting toxicities observed.

Earlier, on March 10, Stifel also lifted its price target on Erasca, Inc. (NASDAQ:ERAS) from $10 to $20 and maintained its Buy rating on the stock. The research firm expects the company to generate about $3.2 billion in global revenue by 2035.

This update comes after Erasca, Inc. (NASDAQ:ERAS) announced the exercise of its option to expand its licensing agreement with Joyo Pharmatech to include China, Hong Kong, and Macau. This move gives the company full access to Joyo’s data, as well as global control over development and future data releases.

According to Erasca, Inc. (NASDAQ:ERAS), the number of patients treated in China so far is likely meaningfully higher than in the US. Stifel believes the company paid around $50 million for these expanded rights, although the exact figure was not disclosed. The firm sees this step as a strong indication of internal enthusiasm at Erasca, Inc. (NASDAQ:ERAS).

Erasca, Inc. (NASDAQ:ERAS) is a clinical-stage precision oncology company focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers.

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Disclosure: None.