Wedbush Sticks to Its Buy Rating for Elevation Oncology (ELEV)

Wedbush analyst Robert Driscoll reiterated a Buy rating on Elevation Oncology (ELEV – Research Report) today and set a price target of $8.00. The company’s shares closed yesterday at $3.82.

Driscoll covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences, Arvinas Holding Company, and Cullinan Management. According to TipRanks, Driscoll has an average return of 9.8% and a 44.65% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Elevation Oncology with a $7.75 average price target, a 102.88% upside from current levels. In a report released today, JMP Securities also reiterated a Buy rating on the stock with a $7.00 price target.

ELEV market cap is currently $194.6M and has a P/E ratio of -2.62.

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Elevation Oncology (ELEV) Company Description:

Elevation Oncology Inc is an oncology company focused on the development of targeted therapeutics for the treatment of cancer in genomically defined patient populations. Its lead program is focused on neuregulin-1, or NRG1, fusions, which are rare genomic alterations that have the potential to be therapeutically actionable through targeted HER3 inhibition.