Belite Bio (NASDAQ:BLTE) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Belite Bio (NASDAQ:BLTEFree Report) in a research note published on Wednesday, Benzinga reports. The brokerage currently has a $59.00 price target on the stock. HC Wainwright also issued estimates for Belite Bio’s Q2 2024 earnings at ($0.28) EPS, FY2024 earnings at ($1.09) EPS and FY2025 earnings at ($1.13) EPS.

Separately, Cantor Fitzgerald reiterated an overweight rating on shares of Belite Bio in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Belite Bio has a consensus rating of Buy and a consensus price target of $44.83.

View Our Latest Report on Belite Bio

Belite Bio Stock Performance

Shares of BLTE stock opened at $44.97 on Wednesday. Belite Bio has a one year low of $11.00 and a one year high of $48.60. The company’s 50-day moving average is $40.06 and its 200 day moving average is $42.40. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -38.11 and a beta of -1.52.

Belite Bio (NASDAQ:BLTEGet Free Report) last announced its quarterly earnings results on Monday, March 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.11. As a group, research analysts predict that Belite Bio will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Belite Bio

An institutional investor recently bought a new position in Belite Bio stock. Armistice Capital LLC bought a new position in shares of Belite Bio, Inc (NASDAQ:BLTEFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 36,000 shares of the company’s stock, valued at approximately $1,647,000. Armistice Capital LLC owned 0.13% of Belite Bio at the end of the most recent quarter. 0.53% of the stock is owned by institutional investors.

Belite Bio Company Profile

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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.

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