Enliven Therapeutics (ELVN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on the stock and has a $38.00 price target.
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Sam Slutsky’s rating is based on the promising results from Enliven Therapeutics’ Phase 1 study of ELVN-001, which demonstrated strong and compelling major molecular response (MMR) rates in patients with chronic myeloid leukemia (CML). The study included a heavily pretreated patient population, with a significant portion having previously received multiple tyrosine kinase inhibitors (TKIs), yet ELVN-001 showed a consistent cumulative MMR rate of 44%, which is competitive compared to other treatments.
Furthermore, ELVN-001 has shown a favorable safety profile, with the maximum tolerated dose not yet reached and a low percentage of patients discontinuing due to adverse events. These factors, combined with the drug’s potential to become a blockbuster treatment, contribute to the positive outlook and the Buy rating. The company’s financials, including a cash runway of approximately 2.5 years, also support the investment thesis.
In another report released yesterday, BTIG also initiated coverage with a Buy rating on the stock with a $42.00 price target.