Enliven Therapeutics (NASDAQ:ELVN) Stock Price Expected to Rise, HC Wainwright Analyst Says

Key Points

• HC Wainwright raised its Enliven Therapeutics price target to $73 from $65 and maintained a “buy” rating, implying roughly 95.6% upside from the stock’s $37.32 opening price. Analysts’ consensus rating is “Moderate Buy,” with an average target of $75.44.
• Enliven reported a quarterly loss of $0.49 per share, missing the $0.39-per-share consensus estimate; analysts expect a full-year loss of approximately $1.81 per share.
• Institutional ownership is high at 95.08%, with several investment firms increasing their stakes, while company insiders sold 183,831 shares worth about $10.8 million over the past 90 days under pre-arranged trading plans.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) had its price target boosted by research analysts at HC Wainwright from $65.00 to $73.00 in a report released on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's target price suggests a potential upside of 95.61% from the stock's current price.

Other equities analysts have also issued research reports about the company. JonesTrading lifted their target price on Enliven Therapeutics from $45.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Stifel Nicolaus increased their price target on shares of Enliven Therapeutics from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. started coverage on shares of Enliven Therapeutics in a research report on Thursday, October 1st. They set an "overweight" rating and a $75.00 price target for the company. The Goldman Sachs Group raised their price target on shares of Enliven Therapeutics from $67.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Mizuho lifted their price objective on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 18th. Ten analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.44.

Enliven Therapeutics Stock Performance

Shares of NASDAQ ELVN opened at $37.32 on Monday. The stock has a market capitalization of $2.73 billion, a PE ratio of -22.35 and a beta of 0.24. The stock's fifty day simple moving average is $52.02 and its two-hundred day simple moving average is $47.96. Enliven Therapeutics has a 12-month low of $14.78 and a 12-month high of $62.32.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.10). On average, equities analysts predict that Enliven Therapeutics will post -1.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, Director Mika Derynck sold 158,795 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $60.21, for a total value of $9,561,046.95. Following the completion of the sale, the director owned 87,373 shares of the company's stock, valued at approximately $5,260,728.33. This trade represents a 64.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the business's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $50.35, for a total value of $303,006.30. Following the sale, the chief financial officer owned 38,000 shares in the company, valued at $1,913,300. The trade was a 13.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 183,831 shares of company stock worth $10,823,298. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Enliven Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its holdings in shares of Enliven Therapeutics by 276.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,153,973 shares of the company's stock valued at $52,898,000 after purchasing an additional 847,399 shares during the period. First Light Asset Management LLC raised its stake in shares of Enliven Therapeutics by 574.1% in the second quarter. First Light Asset Management LLC now owns 1,360,750 shares of the company's stock worth $69,058,000 after purchasing an additional 1,158,883 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Enliven Therapeutics by 27.7% during the second quarter. Tidal Investments LLC now owns 60,694 shares of the company's stock worth $3,080,000 after purchasing an additional 13,179 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Enliven Therapeutics during the second quarter worth about $228,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Enliven Therapeutics during the second quarter worth about $1,479,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.

About Enliven Therapeutics

Enliven Therapeutics, Inc NASDAQ: ELVN is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company seeks to develop therapies designed to address significant unmet needs in oncology, with an emphasis on targeted treatments that may offer improved efficacy, safety, or durability.

Enliven's pipeline includes ELVN-001, an investigational BCR-ABL1 tyrosine kinase inhibitor being developed for patients with chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor intended for the treatment of HER2-driven cancers.

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