FY2024 EPS Estimates for Belite Bio, Inc (NASDAQ:BLTE) Lowered by Leerink Partnrs

Belite Bio, Inc (NASDAQ:BLTEFree Report) – Leerink Partnrs reduced their FY2024 earnings estimates for shares of Belite Bio in a research report issued to clients and investors on Monday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings per share of $0.10 for the year, down from their previous forecast of $0.30. The consensus estimate for Belite Bio’s current full-year earnings is ($1.33) per share. Leerink Partnrs also issued estimates for Belite Bio’s FY2025 earnings at ($0.80) EPS and FY2027 earnings at $0.05 EPS.

Belite Bio (NASDAQ:BLTEGet Free Report) last issued its quarterly earnings results on Monday, November 13th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.09).

Other equities analysts also recently issued reports about the stock. Maxim Group assumed coverage on shares of Belite Bio in a report on Thursday, December 14th. They set a “buy” rating and a $60.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $59.00 price target on shares of Belite Bio in a report on Wednesday, December 27th. Finally, Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Belite Bio in a report on Tuesday, November 7th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Belite Bio presently has a consensus rating of “Buy” and a consensus target price of $44.83.

View Our Latest Analysis on Belite Bio

Belite Bio Stock Performance

Belite Bio stock opened at $44.30 on Wednesday. The company’s 50-day moving average price is $43.61 and its 200-day moving average price is $35.10. Belite Bio has a twelve month low of $11.00 and a twelve month high of $46.70.

Institutional Investors Weigh In On Belite Bio

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG boosted its position in Belite Bio by 194.3% in the 3rd quarter. UBS Group AG now owns 883 shares of the company’s stock valued at $28,000 after buying an additional 583 shares during the period. State Street Corp lifted its position in shares of Belite Bio by 7.4% in the 2nd quarter. State Street Corp now owns 13,385 shares of the company’s stock worth $189,000 after purchasing an additional 921 shares during the period. Millennium Management LLC purchased a new stake in shares of Belite Bio in the 2nd quarter worth approximately $280,000. Alps Advisors Inc. purchased a new stake in shares of Belite Bio in the 4th quarter worth approximately $492,000. Finally, Atria Wealth Solutions Inc. lifted its position in shares of Belite Bio by 0.3% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 814,498 shares of the company’s stock worth $11,639,000 after purchasing an additional 2,733 shares during the period. 3.82% of the stock is owned by hedge funds and other institutional investors.

Belite Bio Company Profile

(Get Free Report)

Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting atrophic age-related macular degeneration and autosomal recessive stargardt diseases (STGD1). Its lead product candidate is LBS-008 (Tinlarebant), an orally administered, once-a-day tablet for maintaining the health and integrity of retinal tissues in STGD1 and GA patients.

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