Guggenheim last night initiated coverage of Enliven (ELVN) with a Buy rating and $80 price target The company is focused on the discovery and development of small molecule therapeutics, the analyst tells investors in a research note. The firm says Enliven’s lead product candidate ELVN-001 is a “potential best in-class” oral BCR-ABL inhibitor for chronic myeloid leukemia that should be Phase 3-ready this summer. The stock’s current valuation does not appreciate the size of the opportunity, strategic validation, and reasonable risk-adjusted market share assumptions for ELVN-001, contends Guggenheim.
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Read More on ELVN:
- Enliven initiated with a Buy at Guggenheim
- Enliven price target raised to $59 from $41 at Goldman Sachs
- Phil Nadeau Reiterates Buy on Enliven, Citing Strong ELVN-001 Early Data, Clear Pivotal Path, and Solid Cash Runway to 2029
- Needham’s Boris Peaker Reiterates Buy on Enliven, Citing Strong ELVN-001 Efficacy in CML and Pivotal Phase 3 ENABLE-2 Catalyst Pathway
- Enliven reports Q1 EPS (38c) vs. (57c) last year