Leerink Partnrs Lifts Earnings Estimates for Belite Bio

Belite Bio, Inc (NASDAQ:BLTE - Free Report) - Equities research analysts at Leerink Partnrs boosted their FY2024 EPS estimates for shares of Belite Bio in a research report issued to clients and investors on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings of ($1.15) per share for the year, up from their prior estimate of ($1.27). The consensus estimate for Belite Bio's current full-year earnings is ($1.17) per share. Leerink Partnrs also issued estimates for Belite Bio's Q4 2024 earnings at ($0.29) EPS, FY2027 earnings at $1.00 EPS and FY2028 earnings at $4.60 EPS.

Belite Bio (NASDAQ:BLTE - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.30) by $0.02. During the same period in the previous year, the business posted ($0.40) EPS.

Several other equities research analysts have also issued reports on BLTE. Benchmark lifted their price objective on Belite Bio from $57.00 to $79.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. HC Wainwright boosted their price objective on Belite Bio from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Maxim Group raised their target price on shares of Belite Bio from $60.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, November 15th.

Belite Bio Trading Up 0.3 %

Shares of BLTE traded up $0.17 during mid-day trading on Friday, reaching $57.89. 13,748 shares of the stock traded hands, compared to its average volume of 39,871. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -52.29 and a beta of -1.59. Belite Bio has a 1 year low of $31.00 and a 1 year high of $86.53. The firm has a fifty day moving average price of $61.21 and a 200 day moving average price of $58.21.

Hedge Funds Weigh In On Belite Bio

A number of hedge funds and other institutional investors have recently modified their holdings of BLTE. Advisors Preferred LLC purchased a new position in Belite Bio in the 4th quarter worth $52,000. GAMMA Investing LLC increased its holdings in shares of Belite Bio by 103.5% in the third quarter. GAMMA Investing LLC now owns 871 shares of the company's stock worth $41,000 after buying an additional 443 shares during the period. XTX Topco Ltd bought a new stake in shares of Belite Bio in the 3rd quarter valued at about $253,000. JPMorgan Chase & Co. boosted its holdings in Belite Bio by 7,122.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company's stock valued at $298,000 after acquiring an additional 6,268 shares during the period. Finally, State Street Corp grew its position in Belite Bio by 28.2% during the 3rd quarter. State Street Corp now owns 20,086 shares of the company's stock worth $942,000 after acquiring an additional 4,415 shares during the last quarter. 0.53% of the stock is currently owned by hedge funds and other institutional investors.

Belite Bio Company Profile

Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. The company's lead product candidate is LBS-008 (Tinlarebant), an orally administered once-a-day tablet for maintaining the health and integrity of retinal tissues in autosomal recessive Stargardt disease and geographic atrophy patients.