Enliven Therapeutics (ELVN) AI Stock Analysis

• Market Cap: $1.74B
• Dividend Yield: N/A
• Average Volume (3M): 842.72K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.38
• Revenue Growth: N/A
• EPS Growth: 3.18%
• Country: US
• Employees: 62
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.48
• Shares Outstanding: 59,800,407
• 10 Day Avg. Volume: 1,259,606
• 30 Day Avg. Volume: 842,724
• PEG Ratio: 2.65
• Price to Book (P/B): 1.90
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.38
• Enterprise Value/Market Cap: 0.94
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -35.60K
• Enterprise Value/Ebitda: -14.31
• 1Y Price Target: $37.67
• Price Target Upside: 29.76% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -2.05
• Revenue Forecast (FY): $10.00K

• Rating: 58 Neutral
• Price Target: $31.00 ▲(6.79% Upside)
• Action: Reiterated Date: 03/20/26
• Date: Action: Reiterated 03/20/26

The score is held back primarily by the company’s lack of revenue, widening losses, and ongoing cash burn despite a strong, low-debt balance sheet. Offsetting these risks, technicals are supportive with price trading above key moving averages and positive MACD, and a recent board leadership change is a modest positive. Valuation contributes limited support due to negative earnings and no dividend data.

Positive Factors

Low leverage and strengthened balance sheet

Near-zero debt and materially higher equity/assets provide a durable runway, lowering financing and solvency risk as Enliven advances late-stage programs. This capitalization supports costly pivotal trials, reduces immediate dilution needs, and increases execution flexibility over coming months.

Experienced board addition supports commercialization

Adding a seasoned commercial oncology executive to the board strengthens governance and go-to-market expertise during the pivot to pivotal studies. This structural leadership upgrade improves oversight, regulatory readiness and commercial planning, enhancing execution odds as programs near registrational stages.

Precision oncology pipeline and Phase 3 readiness

A targeted small-molecule program focused on genetically defined subsets concentrates resources on higher-probability, biomarker-driven indications. ELVN-001 advancing to a pivotal CML trial represents a durable development inflection toward potential commercialization if clinical and regulatory objectives are met.

Negative Factors

No revenue and widening net losses

The absence of any commercial revenue combined with materially widening losses creates ongoing reliance on external financing. Escalating net losses reflect higher investment and operating intensity, increasing the probability of dilution or constrained spending unless milestone-driven value is realized.

Sustained and accelerating cash burn

Operating and free cash flow near -$70M in 2025, with year-over-year FCF deterioration, signals a structural cash consumption trend. Persistent burn at this scale will necessitate capital raises or program cuts, limiting strategic optionality and raising dilution risk over the medium term.

Concentrated single-asset clinical risk

The company's fundamentals are heavily dependent on ELVN-001's success; a single pivotal program creates a binary outcome profile. Limited product diversification and a small team amplify clinical and operational execution risk, making long-term prospects contingent on one trial's outcome.

Enliven Therapeutics Business Overview & Revenue Model

Company Description

Enliven Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. Its pipeline of small molecule kinase inhibitors include ELVN-001, which is being evaluated in a Phase 1 clinical trial in adults with chronic myeloid leukemia; and ELVN-002, a Phase 1 clinical trial has been activated to evaluate people with cancers harboring an abnormal HER2 gene. The company is based in Boulder, Colorado.

How the Company Makes Money

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Enliven Therapeutics Financial Statement Overview

Summary

Financials are mixed for a development-stage biotech: the balance sheet is strong with essentially no debt and materially higher equity/assets, but the income statement and cash flow are weak with zero revenue, widening losses, and sizable ongoing cash burn (operating/FCF around -$70M in 2025).

Income Statement

The company reports no revenue across the provided annual periods, consistent with a pre-commercial biotechnology profile. Losses have widened materially over time (net loss growing from about $19M in 2020 to about $104M in 2025), indicating a rising cost base and heavier investment cycle. While this is not unusual for the industry stage, the lack of revenue visibility and expanding operating losses weigh heavily on income-statement strength.

Balance Sheet

The balance sheet is a key strength: total debt is essentially zero across years, and equity has expanded significantly (from ~$310M in 2024 to ~$460M in 2025), supporting a well-capitalized runway. Total assets also increased meaningfully to ~$476M in 2025. The main weakness is persistent negative returns on equity driven by ongoing losses, but low leverage materially reduces financial risk.

Cash Flow

Cash generation remains negative, with operating cash flow at roughly -$70M in 2025 and free cash flow also around -$70M, reflecting continued cash burn. Free cash flow deterioration versus 2024 (growth around -1.9) suggests accelerating spend. A partial positive is that cash burn generally tracks accounting losses closely (free cash flow roughly in line with net loss), but the magnitude and trajectory of cash usage remain the key concern.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	-263.00K	0.00	0.00	0.00	0.00
EBITDA	-119.39M	-104.24M	-83.23M	-38.58M	-24.65M
Net Income	-103.69M	-89.02M	-71.58M	-37.66M	-24.74M
Balance Sheet
Total Assets	476.17M	325.76M	271.87M	83.30M	113.33M
Cash, Cash Equivalents and Short-Term Investments	462.62M	313.44M	253.15M	75.54M	110.02M
Total Debt	399.00K	0.00	335.00K	323.00K	159.00K
Total Liabilities	16.68M	15.91M	25.96M	160.12M	6.47M
Stockholders Equity	459.60M	309.85M	245.91M	-76.83M	106.86M
Cash Flow
Free Cash Flow	-70.46M	-73.24M	-61.42M	-32.69M	-19.32M
Operating Cash Flow	-70.30M	-73.19M	-61.27M	-32.08M	-19.13M
Investing Cash Flow	-173.84M	-36.00M	-148.41M	-612.00K	-191.00K
Financing Cash Flow	218.87M	133.16M	234.29M	-1.80M	-1.02M

Enliven Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 29.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELVN, the sentiment is Positive. The current price of 29.03 is above the 20-day moving average (MA) of 29.00, above the 50-day MA of 27.54, and above the 200-day MA of 21.92, indicating a bullish trend. The MACD of 0.47 indicates Positive momentum. The RSI at 53.78 is Neutral, neither overbought nor oversold. The STOCH value of 41.74 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ELVN.

Enliven Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ELVN	58 Neutral	$1.74B	-8.42	-24.22%	―	―	3.18%
NTLA	56 Neutral	$1.52B	-2.54	-56.63%	―	33.52%	21.66%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
VRDN	49 Neutral	$2.76B	-5.48	-58.44%	―	23340.07%	18.06%
ABCL	49 Neutral	$1.03B	-6.98	-14.16%	―	7.16%	3.95%
SRPT	48 Neutral	$1.75B	-3.16	-57.52%	―	47.15%	-311.26%

Enliven Therapeutics Corporate Events

Enliven Therapeutics appoints new board chair amid transition

On January 6, 2026, Enliven Therapeutics’ board appointed veteran biopharma executive Scott Garland as a Class I director and Chair of the Nominating and Corporate Governance Committee, effective January 7, 2026, while long-serving director Andrew Phillips, Ph.D., resigned from the board and its committees effective the same date, with the company emphasizing that his departure was not due to any disagreement over operations, policies or practices. Garland, who had consulted for Enliven since January 2024 and brings more than 30 years of commercial leadership experience in oncology and hematology, joins the board as the company pivots from early-stage development to late-stage development and potential commercialization of its lead candidate ELVN-001, following positive clinical data reported in 2025 and in anticipation of initiating a pivotal Phase 3 trial in chronic myeloid leukemia in 2026, a shift that underscores Enliven’s effort to reinforce its leadership and governance for its next phase of growth.

The most recent analyst rating on (ELVN) stock is a Hold with a $15.50 price target. To see the full list of analyst forecasts on Enliven Therapeutics stock, see the ELVN Stock Forecast page.