Cantor Fitzgerald Forecasts Lower Earnings for Belite Bio

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

BLTE has been the subject of a number of other research reports. Benchmark boosted their target price on Belite Bio from $57.00 to $79.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of Belite Bio in a research note on Tuesday, March 18th.

Belite Bio Stock Performance

Shares of BLTE stock traded down $0.34 during mid-day trading on Thursday, hitting $66.94. The company's stock had a trading volume of 27,815 shares, compared to its average volume of 49,762. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of -60.31 and a beta of -1.54. Belite Bio has a 52-week low of $31.01 and a 52-week high of $86.53. The business has a 50-day moving average price of $59.71 and a 200 day moving average price of $61.14.

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

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Institutional Trading of Belite Bio

Hedge funds have recently bought and sold shares of the company. Advisors Preferred LLC bought a new stake in shares of Belite Bio during the 4th quarter valued at about $52,000. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 419 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Belite Bio during the fourth quarter valued at approximately $155,000. XTX Topco Ltd purchased a new stake in Belite Bio during the third quarter valued at approximately $253,000. Finally, JPMorgan Chase & Co. raised its position in Belite Bio by 7,122.7% in the third 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 period. Hedge funds and other institutional investors own 0.53% of the company's stock.

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.