Nucor earnings beat by $0.08, revenue fell short of estimates
On Thursday, H.C. Wainwright analyst Robert Burns raised the price target on Enliven Therapeutics (NASDAQ:ELVN) to $40.00, up from the previous $39.00, while maintaining a Buy rating on the company’s shares. According to InvestingPro data, the clinical-stage biotech company, currently valued at $976 million, maintains a "GOOD" overall financial health score despite being in pre-revenue stage. Enliven Therapeutics reported a first-quarter net loss of $0.57 per share, which was in line with the analyst’s expectations of a $0.50 per share loss.
The company’s research and development (R&D) expenses for the quarter were $24.9 million, and selling, general and administrative (SG&A) expenses amounted to $6.8 million. These figures were slightly higher than H.C. Wainwright’s estimates, which were $22.4 million for R&D and $6.3 million for SG&A expenses.
Looking ahead, H.C. Wainwright has adjusted its projections for the full-year 2025, expecting Enliven to report a net loss of $2.45 per share, an increase from the previously estimated net loss of $2.15 per share. Despite this, the firm ended the first quarter with $289.6 million in cash and equivalents, which is anticipated to fund the company’s operations into late 2027. This financial runway is expected to cover several significant potential data readouts.
The decision to raise the 12-month price target to $40 reflects an increase in the terminal growth rate to 1.5% from the previous 1%. This adjustment contributes to the analyst’s continued positive outlook on Enliven Therapeutics’ stock.
In other recent news, Enliven Therapeutics, Inc. has announced promising results from its ENABLE Phase 1 clinical trial of ELVN-001, a treatment for chronic myeloid leukemia (CML). The trial enrolled 74 patients, with a significant portion previously treated with three or more tyrosine kinase inhibitors. Data from the trial showed that 44% of evaluable patients achieved a major molecular response by 24 weeks. All patients who reached or maintained this response remained in that state at the time of data cutoff. The safety profile of ELVN-001 appears favorable, with minimal dose interruptions and reductions. Enliven’s Chief Medical (TASE:BLWV) Officer, Helen Collins, M.D., highlighted the trial’s consistency in efficacy and safety. The company is considering a pivotal trial for ELVN-001 in 2026. These developments are set to be presented at the European Hematology Association Congress in June 2025.
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