HC Wainwright Forecasts Strong Price Appreciation for Enliven Therapeutics (NASDAQ:ELVN) Stock

Key Points

• HC Wainwright raised its price target on Enliven Therapeutics to $64 from $56 and kept a buy rating, implying about 26% upside from the current share price.
• Other analysts remain mostly bullish, with several firms lifting targets as high as $80; MarketBeat says the stock now carries an average Moderate Buy rating and a $69.17 average price target.
• Enliven’s latest quarter beat expectations, and the stock has been strong recently, opening at $50.80 with a 1-year high of $52.39, while insiders have been selling shares through pre-arranged trading plans.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) had its price objective increased by stock analysts at HC Wainwright from $56.00 to $64.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 25.98% from the stock's current price.

Several other analysts have also recently commented on the stock. Guggenheim began coverage on shares of Enliven Therapeutics in a research note on Tuesday, May 12th. They issued a "buy" rating and a $80.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Enliven Therapeutics in a research note on Monday, April 20th. The Goldman Sachs Group upped their price target on Enliven Therapeutics from $41.00 to $59.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Wall Street Zen raised Enliven Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, May 11th. Finally, Stifel Nicolaus lifted their price objective on Enliven Therapeutics from $60.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.17.

Enliven Therapeutics Price Performance

Enliven Therapeutics stock opened at $50.80 on Thursday. The stock's 50 day moving average price is $42.94 and its 200 day moving average price is $34.37. Enliven Therapeutics has a 1-year low of $14.78 and a 1-year high of $52.39. The company has a market cap of $3.09 billion, a PE ratio of -30.42 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.06. On average, equities research analysts anticipate that Enliven Therapeutics will post -1.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Benjamin Hohl sold 6,018 shares of Enliven Therapeutics stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $43.80, for a total transaction of $263,588.40. Following the completion of the transaction, the chief financial officer directly owned 51,000 shares in the company, valued at $2,233,800. The trade was a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lori Anne Kunkel sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $34.54, for a total value of $345,400.00. Following the completion of the sale, the director directly owned 51,884 shares in the company, valued at approximately $1,792,073.36. The trade was a 16.16% 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 have sold 26,018 shares of company stock valued at $1,113,888. Corporate insiders own 3.00% of the company's stock.

Institutional Trading of Enliven Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighVista Strategies LLC boosted its stake in shares of Enliven Therapeutics by 83.1% during the 3rd quarter. HighVista Strategies LLC now owns 259,135 shares of the company's stock worth $5,304,000 after purchasing an additional 117,619 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Enliven Therapeutics during the third quarter worth about $334,000. Spruce Street Capital LP acquired a new position in shares of Enliven Therapeutics in the fourth quarter valued at approximately $6,870,000. Capricorn Fund Managers Ltd acquired a new position in shares of Enliven Therapeutics in the first quarter valued at approximately $14,480,000. Finally, Baker BROS. Advisors LP lifted its stake in shares of Enliven Therapeutics by 136.3% during the fourth quarter. Baker BROS. Advisors LP now owns 271,406 shares of the company's stock valued at $4,180,000 after buying an additional 156,573 shares during the period. Hedge funds and other institutional investors own 95.08% of the company's stock.

About Enliven Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.