Enliven Therapeutics, Inc. (ELVN) Backed by Goldman Sachs After Strong Trial Data
Enliven Therapeutics, Inc. (NASDAQ:ELVN) is among the best NASDAQ stocks under $50 to buy. On Monday, analysts at Goldman Sachs started coverage on Enliven Therapeutics, Inc. (NASDAQ:ELVN) with a Buy rating and a $37.00 price target, implying a rise of about 60% from the current levels. The firm's confidence in the stock stems from favorable Phase 1 data for the company's chronic myeloid leukemia (CML) solution.
The investment bank noted that ELVN-001's sustained efficacy data, presented during the European Hematology Association meeting, highlighted a 47% overall cumulative major molecular response (MMR) rate by 24 weeks and a 41% response in tyrosine kinase inhibitor (TKI)-resistant patients. These results surpassed the fourth-generation Scemblix by Novartis (SIX:NOVN) figures, with a difference of 10% and 32%, respectively.
A biologist in a laboratory examining a microscope for small molecule inhibitors.
The company is all set to launch a Phase 3 trial in 2026, which in itself is a $3 billion opportunity. If we look at the three-year return, Enliven Therapeutics, Inc. (NASDAQ:ELVN) exhibited a return of a whopping 1,980.18% in contrast to the 64.53% return by the market. Calling this simply an 'amazing' performance would be an understatement.
Enliven Therapeutics, Inc. (NASDAQ:ELVN), headquartered in Boulder, Colorado, is a clinical-stage biopharmaceutical company. The company focuses on the recognition and development of small-molecule inhibitors to assist people living with cancer, improving survival and overall well-being.
While we acknowledge the potential of ELVN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
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