JonesTrading analyst Soumit Roy has maintained their bullish stance on ELVN stock, giving a Buy rating on May 29.
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Soumit Roy has given his Buy rating due to a combination of factors that highlight Enliven Therapeutics’ potential in the treatment of chronic myeloid leukemia (CML). One of the primary reasons is the promising safety profile of Enliven’s clinical-stage drug, ELVN-001, which is crucial for long-term treatment regimens required in CML. The emphasis on long-term safety, particularly concerning cardio, liver, and kidney toxicity, is a significant consideration for physicians when choosing a treatment, and ELVN-001 appears to address these concerns effectively.
Additionally, the upcoming update from the Phase 1b ENABLE trial at the European Hematology Association (EHA) meeting is expected to provide further insights into the drug’s efficacy and safety, potentially positioning it as a strong candidate for a registration-enabling trial. The anticipated data release, which includes longer follow-ups with a substantial patient cohort, could solidify ELVN-001’s standing among existing treatments that have notable long-term adverse effects. These factors combined make Enliven Therapeutics an attractive investment opportunity, justifying the Buy rating.
Roy covers the Healthcare sector, focusing on stocks such as Precision BioSciences, Enliven Therapeutics, and IN8bio. According to TipRanks, Roy has an average return of -25.6% and a 19.44% success rate on recommended stocks.
In another report released on May 29, Mizuho Securities also maintained a Buy rating on the stock with a $41.00 price target.