Andres Y. Maldonado, an analyst from H.C. Wainwright, reiterated the Buy rating on Erasca (ERAS – Research Report). The associated price target is $8.00.
Andres Y. Maldonado has given his Buy rating due to a focused strategic approach by Erasca in refining their MAPK pathway assault, concentrating on the promising SEACRAFT-2 study. Erasca’s alignment with FDA and EMA guidelines for a Phase 3 trial in NRAS-mutated melanoma patients who have not responded to PD-1-based immunotherapies suggests a clear regulatory pathway. The use of dual primary endpoints of PFS and OS, with the NEMO study’s benchmarks as a comparison, indicates a rigorous and well-structured trial design. Maldonado’s optimism is rooted in the potential of naporafenib in combination with trametinib to offer a new treatment paradigm for this patient population, which could lead to initial approval and market differentiation.
The rationale behind the Buy rating also considers the significant unmet need in the post-immunotherapy treatment phase for NRAS-mutated melanoma, where current options are limited to chemotherapy with relatively poor outcomes. The SEACRAFT-2 trial is set to challenge the status quo by testing the efficacy of a combination therapy against standard chemotherapy, with the aim of improving patient outcomes. This strategic move, along with proactive safety management strategies to enhance patient tolerability, reinforces Maldonado’s confidence in Erasca’s potential to deliver a novel therapeutic option. Despite the deprioritization of other assets in Erasca’s pipeline, the analyst maintains the Buy rating, adjusting the price target to reflect these developments.
Y. Maldonado covers the Healthcare sector, focusing on stocks such as Werewolf Therapeutics, Day One Biopharmaceuticals, and Erasca. According to TipRanks, Y. Maldonado has an average return of -2.5% and a 39.39% success rate on recommended stocks.
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Erasca (ERAS) Company Description:
Erasca Inc is a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company’s pipeline includes two clinical-stage programs (ERK and SHP2 inhibitors), two preclinical-stage programs (CNS-penetrant KRAS G12C and EGFR inhibitors), and seven discovery-stage programs targeting other key oncogenic drivers.
Read More on ERAS:
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