Enliven Therapeutics (ELVN) AI Stock Analysis

• Market Cap: $1.71B
• Dividend Yield: N/A
• Average Volume (3M): 781.68K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.42
• 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: 59,347,317
• 10 Day Avg. Volume: 728,648
• 30 Day Avg. Volume: 781,679
• 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: 0.96
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -13.64
• 1Y Price Target: $37.67
• Price Target Upside: 31.03% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -2.05
• Revenue Forecast (FY): $10.00K

• Rating: 61 Neutral
• Price Target: $30.00 ▲(4.35% Upside)
• Action: Reiterated Date: 03/04/26
• Date: Action: Reiterated 03/04/26

The score is driven primarily by a strong, low-debt balance sheet that reduces financial risk, offset by the core biotech risk profile of no revenue, widening losses, and ongoing cash burn. Technicals are supportive with a clear uptrend, though momentum looks near-term stretched. Valuation is constrained by losses (negative P/E) and no dividend, while corporate leadership changes are a modest positive.

Positive Factors

Balance sheet strength

Extremely low leverage and materially higher equity provide durable financial flexibility. This reduces refinancing risk, supports multi-year R&D spending, enables strategic partnering or bolt-on investments, and preserves optionality to fund late-stage trials without immediate reliance on dilutive financing.

Multi-year cash runway

A cash runway into H1 2029 funds pivotal trial execution, regulatory interactions and near-term commercialization planning. This multi-year buffer materially lowers near-term financing pressure, allowing management to execute development milestones and negotiate partnerships from a position of strength.

Lead asset advancing to Phase 3

Progression of ELVN-001 to a pivotal Phase 3 trial represents a structural de-risking versus earlier stages. Successful Phase 3 execution could transition the company toward commercialization and sustainable revenue, materially altering the company's long-term cash generation profile if clinical and regulatory outcomes are positive.

Negative Factors

No revenue; widening losses

Persistent lack of product revenue and rapidly widening losses mean long-term viability depends on trial success and external funding. Continued negative returns on equity and escalating operating deficits increase dependence on capital markets or partnerships to sustain operations beyond the current runway.

Negative cash flow and accelerating burn

Substantial and worsening cash burn elevates the probability of future dilution or the need for non-dilutive deals. Even with current reserves, an accelerating spend profile compresses optionality and could force financing or partnership terms that dilute existing shareholders or limit strategic choices.

Execution risk in late-stage transition

Moving from early-stage research to pivotal trials and commercialization demands scaled clinical operations, regulatory strategy, manufacturing and commercial infrastructure. Management and governance changes help, but the structural execution burden is large and missteps could delay approval or inflate costs, impacting long-term prospects.

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

Enliven Therapeutics makes money primarily through the development and commercialization of its proprietary therapeutic products. The company's revenue model includes securing funding through partnerships with larger pharmaceutical companies, licensing agreements, and potential milestone payments as their drug candidates progress through clinical trials. Once a therapeutic product receives regulatory approval, Enliven Therapeutics generates revenue through product sales, either directly or via distribution agreements with strategic partners. Additionally, the company may engage in collaborations for research and development, which can provide upfront payments and ongoing royalties based on sales performance.

Enliven Therapeutics Financial Statement Overview

Summary

Balance sheet strength (essentially no debt and materially higher equity/assets in 2025) supports a solid funding runway, but financial performance is weighed down by zero revenue, widening net losses (to ~-$104M in 2025), and continued cash burn (operating and free cash flow ~-$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	0.00	0.00	0.00	0.00	0.00
EBITDA	-119.66M	-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	0.00	0.00	335.00K	323.00K	159.00K
Total Liabilities	16.57M	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: 28.75
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 28.75 is above the 20-day moving average (MA) of 27.85, above the 50-day MA of 24.18, and above the 200-day MA of 21.17, indicating a bullish trend. The MACD of 1.16 indicates Negative momentum. The RSI at 59.88 is Neutral, neither overbought nor oversold. The STOCH value of 84.70 is Negative, 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	61 Neutral	$1.71B	―	-25.43%	―	―	3.18%
NTLA	56 Neutral	$1.61B	-3.56	-53.48%	―	33.52%	21.66%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
VRDN	49 Neutral	$3.00B	-7.70	-47.40%	―	23340.07%	18.06%
ABCL	49 Neutral	$1.12B	-7.56	-14.47%	―	7.16%	3.95%
SRPT	48 Neutral	$1.67B	-1.88	-63.17%	―	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.

Enliven Therapeutics Appoints Richard Fair as CEO

On December 11, 2025, Enliven Therapeutics announced the appointment of Richard Fair as the new President and CEO, succeeding co-founder Sam Kintz, who will now serve as Head of Pipeline. This leadership change is part of Enliven’s strategy to advance the pivotal Phase 3 trial of ELVN-001 for chronic myeloid leukemia and its commercialization, reflecting the company’s commitment to its next phase of growth and enhancing its industry positioning.

The most recent analyst rating on (ELVN) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on Enliven Therapeutics stock, see the ELVN Stock Forecast page.