HC Wainwright Reiterates "Buy" Rating for Belite Bio (NASDAQ:BLTE)

Belite Bio (NASDAQ:BLTE - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $100.00 target price on the stock. HC Wainwright's target price indicates a potential upside of 48.63% from the company's current price. HC Wainwright also issued estimates for Belite Bio's Q1 2025 earnings at ($0.37) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.36) EPS, Q4 2025 earnings at ($0.36) EPS and FY2025 earnings at ($1.46) EPS.

Separately, Benchmark increased their price objective on shares of Belite Bio from $57.00 to $79.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st.

Belite Bio Stock Down 0.7 %

Belite Bio stock traded down $0.45 during midday trading on Tuesday, reaching $67.28. The stock had a trading volume of 17,485 shares, compared to its average volume of 49,793. Belite Bio has a 52-week low of $31.01 and a 52-week high of $86.53. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -60.61 and a beta of -1.54. The company has a fifty day moving average of $59.48 and a 200 day moving average of $60.84.

Belite Bio (NASDAQ:BLTE - Get Free Report) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). Equities research analysts predict that Belite Bio will post -1.17 EPS for the current year.

Remove Ads

Hedge Funds Weigh In On Belite Bio

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Belite Bio by 48.1% during the fourth quarter. GAMMA Investing LLC now owns 1,290 shares of the company's stock worth $81,000 after acquiring an additional 419 shares during the period. Advisors Preferred LLC purchased a new position in shares of Belite Bio during the fourth quarter worth approximately $52,000. XTX Topco Ltd increased its position in shares of Belite Bio by 30.9% during the fourth quarter. XTX Topco Ltd now owns 7,062 shares of the company's stock worth $446,000 after acquiring an additional 1,668 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Belite Bio during the fourth quarter worth approximately $155,000. Finally, State Street Corp increased its position in shares of Belite Bio by 28.2% during the third 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 period. 0.53% of the stock is owned by hedge funds and other institutional investors.

About Belite Bio

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.