Belite Bio (NASDAQ:BLTE – Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02), Zacks reports.
Belite Bio Stock Performance
BLTE opened at $67.81 on Tuesday. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -61.09 and a beta of -1.54. The company has a fifty day moving average of $58.58 and a 200 day moving average of $60.47. Belite Bio has a fifty-two week low of $31.01 and a fifty-two week high of $86.53.
Analysts Set New Price Targets
Separately, Benchmark increased their price objective on shares of Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st.
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.
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