Mizuho Initiates Erasca (ERAS) With ‘Outperform’ Rating and $16 PT

Erasca, Inc. (NASDAQ:ERAS) is one of the 11 Best Performing Stocks in the Last 12 Months.

Mizuho Initiates Erasca (ERAS) With ‘Outperform’ Rating and $16 PT

This week, Erasca, Inc. (NASDAQ:ERAS) received strong analyst support amid progress in its RAS inhibitor portfolio.

On January 27, 2026, Mizuho initiated coverage of Erasca, Inc. (NASDAQ:ERAS) with an ‘Outperform’ rating and a $16 price target. The firm’s bullish stance reflects its confidence in the company’s potential to establish proof-of-concept for its RAS-targeted therapies in 2026. Specifically, the firm highlighted ERAS-0015 due to its ability to work well at tolerable doses, alongside its competitive clinical profile.

On the same day, Erasca, Inc. (NASDAQ:ERAS) received attention from Guggenheim, which raised its price target on the stock from $5 to $12 while keeping its ‘Buy’ rating. The increase in confidence reflects updates on ERAS-0015, ERAS-4001, and the recently announced financing. Predicting a 30% chance of success for ERAS-0015 in second-line and later NSCLC and PDAC, the firm projects a 2030 commercial launch. On January 23, the company had announced an upsized public offering of 25,875,000 shares of its common stock, raising $258.8 million in gross proceeds.

Additionally, on January 26, 2026, Morgan Stanley increased its price target on Erasca, Inc. (NASDAQ:ERAS) from $4 to $10, while reiterating an ‘Equal Weight’ rating.

Erasca, Inc. (NASDAQ:ERAS) focuses on developing precision oncology therapies that target RAS/MAPK-driven cancers. The company was founded in 2018 and is based in San Diego.

While we acknowledge the potential of ERAS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ERAS and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.