Cantor Fitzgerald Expects Weaker Earnings for Belite Bio

Belite Bio, Inc (NASDAQ:BLTE - Free Report) - Analysts at Cantor Fitzgerald cut their FY2025 earnings estimates for Belite Bio in a research report issued on Tuesday, March 18th. Cantor Fitzgerald analyst J. Kim now expects that the company will post earnings per share of ($1.36) for the year, down from their prior forecast of ($1.30). Cantor Fitzgerald currently has a "Overweight" rating on the stock. The consensus estimate for Belite Bio's current full-year earnings is ($1.17) per share.

Belite Bio (NASDAQ:BLTE - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02).

Several other brokerages also recently commented on BLTE. HC Wainwright reaffirmed a "buy" rating and issued a $100.00 price target on shares of Belite Bio in a research report on Tuesday, March 18th. Benchmark upped their target price on shares of Belite Bio from $57.00 to $79.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st.

Belite Bio Stock Performance

Shares of Belite Bio stock traded down $0.45 during trading on Thursday, reaching $67.28. The company's stock had a trading volume of 17,485 shares, compared to its average volume of 49,850. Belite Bio has a one year low of $31.01 and a one year 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 business's fifty day moving average price is $59.48 and its 200-day moving average price is $60.92.

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Institutional Trading of Belite Bio

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in 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 buying an additional 4,415 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Belite Bio during the 3rd quarter valued at about $253,000. JPMorgan Chase & Co. increased its stake in Belite Bio by 7,122.7% in the third 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. GAMMA Investing LLC raised its position in Belite Bio by 48.1% in the fourth quarter. GAMMA Investing LLC now owns 1,290 shares of the company's stock worth $81,000 after purchasing an additional 419 shares in the last quarter. Finally, Advisors Preferred LLC bought a new position in Belite Bio during the fourth quarter worth about $52,000. 0.53% of the stock is currently owned by 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.