Belite Bio, Inc (NASDAQ:BLTE) Receives $44.83 Average PT from Analysts

Belite Bio, Inc (NASDAQ:BLTE) has earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $44.83.

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price target on shares of Belite Bio in a research report on Thursday, June 13th. Benchmark reaffirmed a “buy” rating and issued a $57.00 target price on shares of Belite Bio in a research report on Thursday, May 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Belite Bio in a report on Thursday, June 20th.

Institutional Trading of Belite Bio

A hedge fund recently bought a new stake in Belite Bio stock. Jump Financial LLC bought a new position in Belite Bio, Inc (NASDAQ:BLTE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,200 shares of the company’s stock, valued at approximately $238,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

Belite Bio Trading Up 3.5 %

Belite Bio stock opened at $50.33 on Tuesday. The stock has a fifty day moving average price of $47.41 and a 200 day moving average price of $44.48. Belite Bio has a 52 week low of $15.00 and a 52 week high of $50.66. The firm has a market capitalization of $1.50 billion, a P/E ratio of -42.65 and a beta of -1.47.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.07. As a group, equities analysts predict that Belite Bio will post -1.08 EPS for the current year.

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.