Brokerages Set Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Target Price at $202.33

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $202.3333.

BLTE has been the topic of several research analyst reports. Mizuho set a $223.00 target price on shares of Belite Bio in a report on Thursday, February 19th. Morgan Stanley upped their price target on shares of Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. BTIG Research set a $187.00 price objective on shares of Belite Bio in a research report on Wednesday, December 3rd. Needham & Company LLC set a $217.00 price objective on shares of Belite Bio in a report on Tuesday, March 3rd. Finally, Maxim Group set a $200.00 price objective on shares of Belite Bio in a research report on Tuesday, December 2nd.

Institutional Trading of Belite Bio

A number of institutional investors have recently modified their holdings of the company. Darwin Global Management Ltd. bought a new stake in shares of Belite Bio in the fourth quarter valued at about $486,915,000. RA Capital Management L.P. bought a new position in shares of Belite Bio during the third quarter worth about $64,750,000. RTW Investments LP grew its holdings in shares of Belite Bio by 128.9% during the fourth quarter. RTW Investments LP now owns 715,332 shares of the company’s stock worth $114,425,000 after buying an additional 402,832 shares in the last quarter. Millennium Management LLC raised its position in Belite Bio by 2,594.6% in the 4th quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock valued at $89,399,000 after buying an additional 538,141 shares during the last quarter. Finally, Perceptive Advisors LLC raised its position in Belite Bio by 732.0% in the 4th quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock valued at $66,262,000 after buying an additional 364,451 shares during the last quarter. 0.53% of the stock is currently owned by institutional investors.

Belite Bio Price Performance

Shares of Belite Bio stock opened at $164.11 on Thursday. The company has a market capitalization of $6.46 billion, a P/E ratio of -71.35 and a beta of -1.46. The business has a 50-day moving average of $171.21 and a two-hundred day moving average of $128.98. Belite Bio has a 1 year low of $49.00 and a 1 year high of $200.00.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.18. On average, equities analysts anticipate that Belite Bio will post -1.17 EPS for the current fiscal year.

About Belite Bio

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.