Brokerages Set Enliven Therapeutics, Inc. (NASDAQ:ELVN) Target Price at $69.17

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) have earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $70.50.

ELVN has been the subject of several research reports. JonesTrading boosted their price objective on Enliven Therapeutics from $45.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. The Goldman Sachs Group raised their target price on Enliven Therapeutics from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Wall Street Zen upgraded Enliven Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, May 11th. Mizuho raised their price objective on Enliven Therapeutics from $45.00 to $62.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Friday, July 17th.

Insider Activity

In other news, Director Lori Anne Kunkel sold 10,000 shares of Enliven Therapeutics stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $34.54, for a total transaction of $345,400.00. Following the sale, the director owned 51,884 shares of the company’s stock, valued at approximately $1,792,073.36. The trade was a 16.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $43.80, for a total value of $263,588.40. Following the sale, the chief financial officer directly owned 51,000 shares of the company’s stock, valued at approximately $2,233,800. This trade represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 26,018 shares of company stock worth $1,113,888. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

A number of hedge funds have recently modified their holdings of ELVN. Tudor Investment Corp ET AL purchased a new stake in Enliven Therapeutics in the 3rd quarter valued at about $334,000. Candriam S.C.A. boosted its stake in Enliven Therapeutics by 31.1% during the first quarter. Candriam S.C.A. now owns 594,079 shares of the company’s stock worth $23,288,000 after buying an additional 141,060 shares during the period. First Light Asset Management LLC purchased a new position in Enliven Therapeutics during the first quarter worth about $7,913,000. Jennison Associates LLC acquired a new stake in shares of Enliven Therapeutics during the first quarter valued at about $12,120,000. Finally, Siren L.L.C. acquired a new stake in shares of Enliven Therapeutics during the first quarter valued at about $29,252,000. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Enliven Therapeutics Stock Down 0.4%

ELVN opened at $52.74 on Tuesday. The firm’s fifty day simple moving average is $45.75 and its two-hundred day simple moving average is $37.69. Enliven Therapeutics has a 52-week low of $14.78 and a 52-week high of $55.79. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -31.58 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN) last released its earnings results on Thursday, May 7th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. On average, research analysts forecast that Enliven Therapeutics will post -1.57 EPS for the current year.

Enliven Therapeutics Company Profile

Enliven Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapies that harness induced proximity mechanisms to selectively target and degrade disease-causing proteins in cancer. Leveraging its proprietary Induced Proximity platform, the company designs molecular glues and related modalities to recruit endogenous cellular machinery for targeted protein degradation, with the goal of treating malignancies driven by so-called “undruggable” oncogenic factors.

The company’s pipeline comprises several early-stage programs directed at key oncogenic drivers across hematologic and solid tumor indications.