FY2028 EPS Estimates for Belite Bio Cut by Leerink Partnrs

Belite Bio, Inc (NASDAQ:BLTE - Free Report) - Stock analysts at Leerink Partnrs cut their FY2028 earnings per share (EPS) estimates for shares of Belite Bio in a report released on Sunday, April 13th. Leerink Partnrs analyst M. Goodman now expects that the company will post earnings per share of $4.40 for the year, down from their prior forecast of $4.60. The consensus estimate for Belite Bio's current full-year earnings is ($1.17) per share.

A number of other research firms have also recently commented on BLTE. Cantor Fitzgerald restated an "overweight" rating on shares of Belite Bio in a research report on Tuesday, March 18th. Benchmark restated a "buy" rating and issued a $80.00 target price on shares of Belite Bio in a research report on Wednesday, March 26th. Finally, HC Wainwright restated a "buy" rating and set a $100.00 price target on shares of Belite Bio in a research report on Tuesday, March 18th.

Belite Bio Stock Down 4.3 %

Shares of NASDAQ:BLTE traded down $2.42 during trading on Wednesday, hitting $53.98. 19,913 shares of the stock traded hands, compared to its average volume of 50,353. The company has a fifty day moving average price of $60.81 and a two-hundred day moving average price of $62.76. Belite Bio has a 52-week low of $32.50 and a 52-week high of $86.53. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -48.63 and a beta of -1.52.

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

Institutional Trading of Belite Bio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Preferred LLC acquired a new position in Belite Bio in the fourth quarter valued at about $52,000. GAMMA Investing LLC grew its stake 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 valued at $81,000 after buying an additional 419 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Belite Bio in the 4th quarter valued at $155,000. XTX Topco Ltd purchased a new position in Belite Bio during the 3rd quarter valued at about $253,000. Finally, JPMorgan Chase & Co. grew its position in Belite Bio by 7,122.7% in 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 in the last quarter. Institutional investors and hedge funds own 0.53% of the company's stock.

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.