Enliven price target raised to $56 from $48 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Enliven (ELVN) to $56 from $48 and keeps a Buy rating on the shares. The firm believes Merck’s (MRK) acquisition of Terns Pharmaceuticals (TERN) poses a threat to other major pharma companies. Novartis (NVS) could be the most likely pharma company to express interest in acquiring Enliven given the strategic need, the analyst tells investors in a research note. “From our perspective, the Terns acquisition does not detract from Enliven’s value proposition; in fact, quite the opposite,” contends H.C. Wainwright.