Enliven Therapeutics (NASDAQ:ELVN) Price Target Raised to $70.00

Enliven Therapeutics (NASDAQ:ELVN) had its price objective upped by equities research analysts at JonesTrading from $45.00 to $70.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. JonesTrading’s price objective points to a potential upside of 40.07% from the stock’s current price.

Several other research firms also recently commented on ELVN. Mizuho boosted their target price on shares of Enliven Therapeutics from $45.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Guggenheim started coverage on shares of Enliven Therapeutics in a research note on Tuesday, May 12th. They set a “buy” rating and a $80.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Monday, April 20th. Wall Street Zen upgraded shares of Enliven Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, The Goldman Sachs Group increased their price objective on shares of Enliven Therapeutics from $41.00 to $59.00 and gave the company a “buy” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.50.

Enliven Therapeutics Price Performance

Shares of NASDAQ:ELVN traded down $0.10 during trading on Monday, hitting $49.98. 264,956 shares of the company’s stock were exchanged, compared to its average volume of 1,328,117. The business’s 50-day simple moving average is $42.17 and its 200 day simple moving average is $32.55. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -29.91 and a beta of 0.29. Enliven Therapeutics has a 52-week low of $14.78 and a 52-week high of $50.97.

Enliven Therapeutics (NASDAQ:ELVN) last posted its quarterly 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, sell-side analysts anticipate that Enliven Therapeutics will post -1.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Lori Anne Kunkel sold 10,000 shares of the business’s stock in a transaction 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 completion of the sale, the director directly 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 ownership of the stock. The sale was disclosed in a document filed 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 business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $43.80, for a total transaction of $263,588.40. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.00% of the stock is owned by company insiders.

Institutional Trading of Enliven Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ELVN. Vestal Point Capital LP grew its stake in Enliven Therapeutics by 230.2% during the 4th quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company’s stock worth $58,982,000 after buying an additional 2,670,000 shares during the last quarter. Siren L.L.C. acquired a new position in shares of Enliven Therapeutics during the first quarter valued at about $29,252,000. Affinity Asset Advisors LLC acquired a new position in shares of Enliven Therapeutics during the first quarter valued at about $23,007,000. TCG Crossover Management LLC purchased a new position in shares of Enliven Therapeutics in the 2nd quarter valued at approximately $9,990,000. Finally, Duquesne Family Office LLC raised its position in shares of Enliven Therapeutics by 104.6% in the 3rd quarter. Duquesne Family Office LLC now owns 947,405 shares of the company’s stock valued at $19,393,000 after purchasing an additional 484,405 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.

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.