Enliven Therapeutics (ELVN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Salim Syed from Mizuho Securities maintained a Buy rating on the stock and has a $39.00 price target.
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Salim Syed has given his Buy rating due to a combination of factors favoring Enliven Therapeutics’ ELVN-001 over its competitor, olverembatinib. One of the primary reasons is the high kinase selectivity of ELVN-001, which sets it apart from olverembatinib. This selectivity is significant because it reduces the likelihood of cardiovascular toxicity, a concern associated with olverembatinib due to its structural similarities with another drug, ponatinib, known for its cardiovascular risks.
Furthermore, ELVN-001’s clinical data to date, particularly the absence of cardiovascular toxicity at the 24-week mark, has been promising. This differentiates it positively in investor discussions. Moreover, the anticipated Phase 1b data release in mid-2025 is expected to be a crucial catalyst, potentially driving more interest and investment in Enliven Therapeutics. These elements collectively support the Buy rating given by Salim Syed.
According to TipRanks, Syed is an analyst with an average return of -5.7% and a 39.27% success rate. Syed covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals, BridgeBio Pharma, and Gilead Sciences.