Down -27.17% in 4 Weeks, Here's Why Erasca (ERAS) Looks Ripe for a Turnaround

Core Viewpoint - Erasca, Inc. (ERAS) has experienced significant selling pressure, resulting in a 27.2% decline over the past four weeks, but analysts anticipate improved earnings in the near future [1] Group 1: Technical Indicators - The Relative Strength Index (RSI) is utilized to identify oversold stocks, with a reading below 30 indicating oversold conditions [2] - ERAS has an RSI reading of 20.75, suggesting that the heavy selling may be exhausting, indicating a potential rebound [5] Group 2: Fundamental Indicators - Analysts have raised earnings estimates for ERAS by 1% over the last 30 days, which typically correlates with price appreciation [6] - ERAS holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, indicating a strong potential for a turnaround [7]