LifeSci Capital analyst Sam Slutsky has maintained their bullish stance on ELVN stock, giving a Buy rating yesterday.
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Sam Slutsky has given his Buy rating due to a combination of factors that highlight Enliven Therapeutics’ promising potential. The company recently presented updated Phase 1 data for their lead program, ELVN-001, at the EHA annual meeting, showing improved response rates in patients with chronic myeloid leukemia (CML). The treatment demonstrated a significant cumulative major molecular response rate, indicating its effectiveness compared to previous results.
Moreover, ELVN-001 continues to exhibit a favorable safety profile, with a low incidence of severe adverse events and minimal treatment discontinuations. This safety aspect is crucial, especially for patients who have been previously treated with asciminib, as they also showed positive response rates under ELVN-001. Additionally, Enliven’s strong financial position, bolstered by a recent capital raise, ensures they are well-funded to advance their clinical programs, providing further confidence in their long-term growth prospects.
Slutsky covers the Healthcare sector, focusing on stocks such as Enliven Therapeutics, Abivax SA Sponsored ADR, and Immunovant. According to TipRanks, Slutsky has an average return of -5.2% and a 35.20% success rate on recommended stocks.
In another report released yesterday, JonesTrading also reiterated a Buy rating on the stock with a $35.00 price target.