Analysts Set Expectations for Belite Bio FY2025 Earnings

Belite Bio, Inc (NASDAQ:BLTE - Free Report) - Cantor Fitzgerald issued their FY2025 earnings per share (EPS) estimates for shares of Belite Bio in a research note issued on Tuesday, January 21st. Cantor Fitzgerald analyst J. Kim anticipates that the company will post earnings of ($1.29) per share for the year. The consensus estimate for Belite Bio's current full-year earnings is ($1.21) per share.

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

BLTE has been the topic of several other reports. Benchmark boosted their price objective on shares of Belite Bio from $57.00 to $79.00 and gave the stock a "buy" rating in a research note on Tuesday. Maxim Group lifted their price target on Belite Bio from $60.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, HC Wainwright upped their price objective on Belite Bio from $60.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, November 13th.

Belite Bio Trading Up 0.3 %

Shares of Belite Bio stock traded up $0.20 during trading on Wednesday, reaching $58.42. The stock had a trading volume of 35,396 shares, compared to its average volume of 48,636. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -52.63 and a beta of -1.56. The stock has a fifty day moving average price of $65.38 and a two-hundred day moving average price of $57.61. Belite Bio has a 52 week low of $31.00 and a 52 week high of $86.53.

Hedge Funds Weigh In On Belite Bio

A number of institutional investors and hedge funds have recently modified their holdings of BLTE. Armistice Capital LLC purchased a new position in shares of Belite Bio during the 2nd quarter valued at $6,761,000. JPMorgan Chase & Co. increased its stake in Belite Bio by 7,122.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company's stock worth $298,000 after acquiring an additional 6,268 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Belite Bio in the 3rd quarter valued at about $253,000. State Street Corp boosted its position in shares of Belite Bio by 28.2% during the 3rd quarter. State Street Corp now owns 20,086 shares of the company's stock valued at $942,000 after acquiring an additional 4,415 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Belite Bio by 103.5% during the third quarter. GAMMA Investing LLC now owns 871 shares of the company's stock worth $41,000 after purchasing an additional 443 shares in the last quarter. 0.53% of the stock is currently owned by 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.