HC Wainwright Reaffirms “Buy” Rating for Belite Bio (NASDAQ:BLTE)

HC Wainwright reaffirmed their buy rating on shares of Belite Bio (NASDAQ:BLTE) in a research report report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $100.00 price objective 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 raised their price target on Belite Bio from $57.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st.

Belite Bio Trading Up 0.1 %

NASDAQ:BLTE opened at $67.73 on Tuesday. Belite Bio has a twelve month low of $31.01 and a twelve month high of $86.53. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -61.02 and a beta of -1.54. The stock has a fifty day simple moving average of $59.24 and a 200-day simple moving average of $60.71.

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

Hedge Funds Weigh In On Belite Bio

Institutional investors have recently made changes to their positions in the company. Advisors Preferred LLC purchased a new position in shares of Belite Bio during the fourth quarter valued at $52,000. GAMMA Investing LLC grew its stake in Belite Bio by 48.1% in the fourth quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock valued at $81,000 after purchasing an additional 419 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Belite Bio in the fourth quarter valued at about $155,000. XTX Topco Ltd purchased a new position in Belite Bio in the third quarter valued at about $253,000. Finally, JPMorgan Chase & Co. grew its stake in Belite Bio by 7,122.7% in the third quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock valued at $298,000 after purchasing an additional 6,268 shares during the last quarter. Hedge funds and other institutional investors own 0.53% of the company’s stock.

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.