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

HC Wainwright reiterated their buy rating on shares of Belite Bio (NASDAQ:BLTE) in a report released on Thursday morning, Benzinga reports. They currently have a $59.00 price objective on the stock.

A number of other research firms have also issued reports on BLTE. Cantor Fitzgerald reiterated an overweight rating on shares of Belite Bio in a report on Wednesday, May 15th. Benchmark reaffirmed a buy rating and set a $57.00 price target on shares of Belite Bio in a report on Thursday, May 16th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $44.83.

Belite Bio Trading Down 0.3 %

NASDAQ:BLTE opened at $49.96 on Thursday. The firm has a market cap of $1.49 billion, a PE ratio of -42.34 and a beta of -1.43. The stock has a fifty day moving average price of $42.89 and a 200 day moving average price of $43.71. Belite Bio has a 12-month low of $11.00 and a 12-month high of $50.15.

Belite Bio (NASDAQ:BLTE) last released its earnings results on Monday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.07. Equities analysts forecast that Belite Bio will post -1.08 EPS for the current year.

Institutional Trading of Belite Bio

A hedge fund recently bought a new stake in Belite Bio stock. Jump Financial LLC bought a new stake in Belite Bio, Inc (NASDAQ:BLTE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,200 shares of the company’s stock, valued at approximately $238,000. 0.53% of the stock is owned by institutional investors and hedge funds.

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.