HC Wainwright Issues Positive Forecast for Belite Bio (NASDAQ:BLTE) Stock Price

Belite Bio (NASDAQ:BLTE) had its price objective raised by HC Wainwright from $60.00 to $100.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Benchmark reissued a “buy” rating and issued a $57.00 price target on shares of Belite Bio in a report on Tuesday, August 13th.

Belite Bio Stock Up 1.3 %

Shares of BLTE stock opened at $82.23 on Wednesday. Belite Bio has a 12 month low of $31.00 and a 12 month high of $83.60. The company has a market cap of $2.52 billion, a PE ratio of -74.08 and a beta of -1.60. The business’s 50 day moving average is $57.83 and its two-hundred day moving average is $51.01.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.02. During the same period last year, the firm posted ($0.40) EPS. As a group, equities analysts expect that Belite Bio will post -1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Belite Bio

A hedge fund recently bought a new stake in Belite Bio stock. Armistice Capital LLC purchased a new stake in Belite Bio, Inc (NASDAQ:BLTE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 148,000 shares of the company’s stock, valued at approximately $6,761,000. Armistice Capital LLC owned approximately 0.50% of Belite Bio at the end of the most recent reporting period. 0.53% of the stock is owned by hedge funds and other institutional investors.

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.