Enliven Therapeutics (ELVN) AI Stock Analysis

• Market Cap: $918.10M
• Dividend Yield: N/A
• Average Volume (3M): 700.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.23
• Revenue Growth: N/A
• EPS Growth: 3.18%
• Country: US
• Employees: 62
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.32
• Shares Outstanding: 59,347,317
• 10 Day Avg. Volume: 1,113,637
• 30 Day Avg. Volume: 700,595
• PEG Ratio: 1.99
• Price to Book (P/B): 3.42
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -14.46
• Enterprise Value/Market Cap: 1.27
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: -10.93
• 1Y Price Target: $40.20
• Price Target Upside: 72.90% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: $24.00 ▲(3.23% Upside)

The score is held back primarily by pre-revenue operations, widening losses, and persistent negative cash flow despite a strong, low-leverage balance sheet. Technicals are supportive with the stock trading above key moving averages, but mixed momentum indicators temper the setup. Valuation remains challenged due to losses and no dividend, while recent leadership/board changes modestly support the outlook.

Positive Factors

Low leverage / strong equity base

Enliven’s near-zero debt and materially strengthened equity provide durable financial flexibility to fund clinical development and regulatory interactions. Low leverage reduces solvency risk, preserves optionality for partnering or milestone-based financing, and supports Phase 3 execution without immediate refinancing pressure.

Advancing ELVN-001 toward pivotal Phase 3

Positive Phase 1b data and active regulatory alignment signal a structural de-risking of the lead program. Progress toward a pivotal ENABLE-2 trial and formal FDA interactions materially change the company’s development trajectory, increasing the probability of a registrational path and long-term commercial optionality if efficacy and safety hold.

Strengthened leadership and governance

Recent board and management changes add commercial and late-stage development experience, which is durable for execution risk reduction. Experienced governance improves trial design, FDA engagement, and commercialization planning, enhancing the company's ability to navigate Phase 3, partner negotiations, and market entry if approved.

Negative Factors

Pre-revenue operations and widening losses

As a clinical-stage biotech with zero revenue, Enliven’s financial profile is structurally loss-making. Widening operating losses increase the scale of future financing needs, raise dilution risk for existing shareholders, and mean long-term viability depends on successful clinical outcomes or external funding sources.

Persistent negative operating and free cash flow

Sustained negative operating and free cash flow indicate the company cannot self-fund development internally. Persistent cash burn necessitates external capital or partnerships, which can dilute shareholders or impose milestone-driven constraints and could delay programs if capital markets tighten or deal terms worsen.

High concentration on single lead asset (ELVN-001)

The company’s near-term clinical and commercial prospects hinge largely on ELVN-001. This single-asset concentration creates binary outcome risk: trial delays, safety or efficacy setbacks would materially impair the company’s strategic plan and valuation prospects, increasing dependency on successful Phase 3 execution or alternative programs/partnerships.

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

Financials are mixed for a development-stage biotech: the balance sheet is a strength with minimal leverage and growing equity, but the company remains pre-revenue with widening losses and persistently negative operating/free cash flow (ongoing burn), which materially weakens overall financial performance.

Income Statement

ELVN remains pre-revenue (revenue is $0 in both annual periods and TTM (Trailing-Twelve-Months)), which keeps profitability structurally negative. Losses have widened versus earlier years, with EBIT and net income significantly more negative in 2023–2025 versus 2020–2022, indicating rising operating spend. While this is common for clinical-stage biotech, the lack of revenue and expanding losses weigh heavily on the income statement quality.

Balance Sheet

The balance sheet is a clear strength: debt is minimal (near-zero debt-to-equity in the most recent periods) and equity has grown substantially from prior years, supporting financial flexibility. Total assets and equity are both sizable relative to debt, which reduces solvency risk. The main weakness is ongoing negative returns on equity in the most recent periods, reflecting continuing losses rather than balance-sheet leverage.

Cash Flow

Cash generation is currently weak, with operating cash flow and free cash flow consistently negative across annual periods and TTM (Trailing-Twelve-Months), reflecting a sustained cash burn profile. A positive sign is that free cash flow in TTM (Trailing-Twelve-Months) is modestly improved versus 2024, but overall cash outflows remain large and persistent. Free cash flow roughly tracks net losses, indicating limited non-cash support to offset the burn.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-107.02M	-104.24M	-83.23M	-38.58M	-24.65M	-9.27M
Net Income	-97.21M	-89.02M	-71.58M	-37.66M	-24.74M	-18.97M
Balance Sheet
Total Assets	490.88M	325.76M	271.87M	83.30M	113.33M	90.84M
Cash, Cash Equivalents and Short-Term Investments	477.56M	313.44M	253.15M	75.54M	110.02M	88.22M
Total Debt	387.00K	0.00	335.00K	323.00K	159.00K	0.00
Total Liabilities	14.75M	15.91M	25.96M	160.12M	6.47M	6.41M
Stockholders Equity	476.12M	309.85M	245.91M	-76.83M	106.86M	84.44M
Cash Flow
Free Cash Flow	-71.82M	-73.24M	-61.42M	-32.69M	-19.32M	-8.99M
Operating Cash Flow	-71.67M	-73.19M	-61.27M	-32.08M	-19.13M	-8.53M
Investing Cash Flow	-185.49M	-36.00M	-148.41M	-612.00K	-191.00K	-461.00K
Financing Cash Flow	258.22M	133.16M	234.29M	-1.80M	-1.02M	130.51M

Enliven Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 23.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• 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 23.25 is above the 20-day moving average (MA) of 16.92, above the 50-day MA of 19.31, and above the 200-day MA of 19.64, indicating a bullish trend. The MACD of -0.57 indicates Negative momentum. The RSI at 70.19 is Negative, neither overbought nor oversold. The STOCH value of 41.00 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
CDTX	68 Neutral	$6.96B	-18.79	-68.70%	―	-100.00%	53.89%
VRDN	60 Neutral	$2.92B	-8.58	-47.40%	―	23340.07%	18.06%
ELVN	56 Neutral	$918.10M	-12.60	-25.43%	―	―	3.18%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SRPT	51 Neutral	$2.46B	-8.00	-21.37%	―	47.15%	-311.26%
ABCL	49 Neutral	$1.24B	-7.13	-16.81%	―	7.16%	3.95%
NTLA	48 Neutral	$1.17B	-2.47	-52.11%	―	33.52%	21.66%

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.