In a report released yesterday, Justin Zelin from BTIG reiterated a Buy rating on Enliven Therapeutics (ELVN – Research Report), with a price target of $45.00.
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Justin Zelin has given his Buy rating due to a combination of factors that highlight the promising potential of Enliven Therapeutics’ ELVN-001. The updated data from the Phase I study presented at the EHA conference shows an improvement in the major molecular response (MMR) rate to 47% at 24 weeks, particularly notable among patients previously treated with asciminib or ponatinib. The safety profile of ELVN-001 remains favorable, with low rates of adverse events and minimal discontinuations or dose reductions, which supports its potential as a reliable treatment option.
Furthermore, the company has amended its study protocol to include earlier-line patients, which could further demonstrate the efficacy of ELVN-001. With a strong cash position extending into the first half of 2029, Enliven Therapeutics is well-positioned to advance its pivotal trials, particularly in the 2L+ setting, which is expected to enroll faster and offers a significant market opportunity. Given the robust efficacy and safety data, along with the substantial market potential in late-line chronic myeloid leukemia, Zelin reiterates a Buy rating and sets a price target of $45.
In another report released today, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $37.00 price target.