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Investing.com - H.C. Wainwright raised its price target on Enliven Therapeutics (NASDAQ:ELVN) to $48.00 from $40.00 on Wednesday, while maintaining a Buy rating on the stock. The $1.16 billion market cap company currently trades at $19.65, having declined 8.6% over the past week. According to InvestingPro, analyst targets for ELVN range from $33 to $52.
The upgrade follows updated results from the Phase 1a/1b ENABLE trial evaluating ELVN-001 in heavily pretreated chronic myelogenous leukemia (CML) patients, which were presented at EHA 2025. InvestingPro analysis shows the company maintains a FAIR overall financial health score, with particularly strong ratings in cash flow management.
The trial data showed that 47% of evaluable patients achieved major molecular response (MMR) by 24 weeks, with 32% achieving and 100% maintaining MMR. Among patients resistant to their last TKI, 41% were in MMR by 24 weeks.
H.C. Wainwright noted that these results compare favorably to prior Phase 1 cumulative MMR rates for approved BCR::ABL1 TKIs, particularly considering the heavily pretreated population in the study, where 66.7% of patients had three or more prior TKIs.
From a safety perspective, the data showed that 16.1% of patients had dose interruptions, 3.4% experienced dose reductions, and 4.6% discontinued treatment due to treatment-emergent adverse events. InvestingPro data reveals the company holds more cash than debt on its balance sheet, providing financial flexibility to advance its clinical programs. Unlock 4 additional ProTips and comprehensive financial metrics with an InvestingPro subscription.
In other recent news, Enliven Therapeutics has reported promising data from its Phase 1 ENABLE trial for the chronic myeloid leukemia treatment, ELVN-001, at the European Hematology Association Congress. The trial results demonstrated a 47% cumulative major molecular response rate by 24 weeks, with a favorable safety profile. The company plans to initiate a Phase 3 trial in 2026. Additionally, Enliven Therapeutics has launched a $200 million public offering of common stock and pre-funded warrants, with an option for underwriters to purchase an additional $30 million in stock. Jefferies, Goldman Sachs & Co. LLC, TD Cowen, and Mizuho (NYSE:MFG) are managing the offering. TD Cowen has reiterated its buy rating on Enliven Therapeutics, citing the strong market potential of ELVN-001, which could achieve peak sales of $3 billion if approved. Goldman Sachs has also initiated coverage with a Buy rating, highlighting positive Phase 1 data and comparing ELVN-001 favorably to Novartis (SIX:NOVN)’ Scemblix. These developments indicate significant interest and potential in Enliven’s ongoing clinical programs.
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