Goldman Sachs analyst Salveen Richter has maintained their bullish stance on ELVN stock, giving a Buy rating on June 14.
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Salveen Richter has given his Buy rating due to a combination of factors including the promising Phase 1 data for Enliven Therapeutics’ ELVN-001 in chronic myeloid leukemia (CML), which has shown consistent efficacy and a favorable safety profile. The data indicates a significant major molecular response rate in patients, including those resistant to tyrosine kinase inhibitors, which supports the drug’s potential in the market.
Furthermore, the planned initiation of a Phase 3 trial in 2026, along with the strategic positioning of ELVN-001 against existing treatments, enhances its commercial prospects. The management’s strategy to potentially expand the drug’s application into first-line treatment and the company’s efforts to partner its HER2 inhibitor, ELVN-002, are seen as positive steps in resource allocation and future growth. These factors collectively contribute to the optimistic outlook and the Buy rating assigned by Salveen Richter.
In another report released on June 14, LifeSci Capital also maintained a Buy rating on the stock with a $37.00 price target.