Analysts Set Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Price Target at $177.57

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $179.75.

Several analysts have commented on BLTE shares. Bank of America began coverage on shares of Belite Bio in a research report on Monday. They issued a “buy” rating and a $195.00 price objective on the stock. Cantor Fitzgerald started coverage on shares of Belite Bio in a research note on Monday, November 24th. They set an “overweight” rating and a $154.00 price target for the company. Morgan Stanley initiated coverage on shares of Belite Bio in a report on Tuesday, January 6th. They issued an “overweight” rating and a $191.00 price target on the stock. Benchmark reissued a “buy” rating on shares of Belite Bio in a report on Wednesday, December 3rd. Finally, Mizuho set a $194.00 target price on Belite Bio and gave the stock an “outperform” rating in a research report on Tuesday, December 2nd.

Belite Bio Trading Up 3.0%

Shares of Belite Bio stock opened at $167.34 on Wednesday. The business’s fifty day simple moving average is $150.92 and its 200 day simple moving average is $103.31. Belite Bio has a 12 month low of $49.00 and a 12 month high of $174.78. The firm has a market capitalization of $6.28 billion, a P/E ratio of -87.16 and a beta of -1.46.

Belite Bio (NASDAQ:BLTE) last announced its earnings results on Monday, December 1st. The company reported $0.95 earnings per share (EPS) for the quarter. Analysts predict that Belite Bio will post -1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Belite Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLTE. EverSource Wealth Advisors LLC purchased a new position in shares of Belite Bio in the second quarter worth about $147,000. Marshall Wace LLP bought a new position in Belite Bio in the 2nd quarter worth approximately $547,000. BNP Paribas Financial Markets purchased a new position in Belite Bio in the 2nd quarter valued at approximately $190,000. GAMMA Investing LLC raised its holdings in Belite Bio by 11.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after acquiring an additional 176 shares during the period. Finally, High Net Worth Advisory Group LLC purchased a new stake in shares of Belite Bio during the third quarter worth $259,000. 0.53% of the stock is currently owned by institutional investors.

Belite Bio Company Profile

Belite Bio, Inc (NASDAQ: BLTE) is a clinical-stage biotechnology company focused on discovering and developing small molecule therapeutics for metabolic and inflammatory diseases. Leveraging a proprietary drug-discovery platform, the company aims to address conditions such as nonalcoholic steatohepatitis (NASH) and obesity by targeting pathways involved in fibrosis, inflammation and metabolic regulation.

Belite Bio’s pipeline includes multiple candidates in preclinical and early clinical development stages.