Enliven price target raised to $59 from $41 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Enliven (ELVN) to $59 from $41 and keeps a Buy rating on the shares. Enliven reported Q1 results and reaffirmed timelines for ELVN-001 in CML, including additional Phase 1 data expected mid-year and planned Phase 3 initiation in 2H for 2L+ patients, while early Phase 1b results showed encouraging efficacy supportive of best-in-class potential among active site TKIs, the analyst tells investors in a research note. Broader competitive and industry signals, including Scemblix’s growing frontline adoption and Merck’s (MRK) acquisition of Terns, also underscore increasing biopharma interest in the CML space and reinforce Enliven’s strategic attractiveness, the firm says.