Belite Bio’s (BLTE) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Belite Bio (NASDAQ:BLTE) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $100.00 target price on the stock. HC Wainwright also issued estimates for Belite Bio’s Q1 2025 earnings at ($0.37) EPS, Q2 2025 earnings at ($0.36) EPS, Q3 2025 earnings at ($0.36) EPS, Q4 2025 earnings at ($0.36) EPS and FY2025 earnings at ($1.46) EPS.

Separately, Benchmark increased their target price on Belite Bio from $57.00 to $79.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st.

Belite Bio Stock Performance

NASDAQ BLTE opened at $67.73 on Tuesday. The company has a market capitalization of $2.16 billion, a P/E ratio of -61.02 and a beta of -1.54. Belite Bio has a one year low of $31.01 and a one year high of $86.53. The stock has a 50 day moving average price of $59.24 and a 200-day moving average price of $60.71.

Belite Bio (NASDAQ:BLTE) last posted its earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). As a group, equities analysts predict that Belite Bio will post -1.17 EPS for the current fiscal year.

Institutional Trading of Belite Bio

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Belite Bio by 7,122.7% in the third quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock worth $298,000 after buying an additional 6,268 shares during the last quarter. Advisors Preferred LLC bought a new stake in Belite Bio in the fourth quarter worth $52,000. State Street Corp lifted its position in Belite Bio by 28.2% in the third quarter. State Street Corp now owns 20,086 shares of the company’s stock worth $942,000 after buying an additional 4,415 shares during the last quarter. GAMMA Investing LLC lifted its position in Belite Bio by 48.1% in the fourth quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock worth $81,000 after buying an additional 419 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Belite Bio in the third quarter worth $253,000. 0.53% of the stock is currently owned by institutional investors.

About Belite Bio

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.