Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Receives $113.33 Average Price Target from Analysts

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have received an average rating of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $113.3333.

A number of equities analysts recently commented on the company. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Zacks Research raised shares of Belite Bio from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a report on Wednesday, October 8th. HC Wainwright dropped their price objective on Belite Bio from $100.00 to $98.00 and set a “buy” rating on the stock in a research note on Monday, September 15th. Finally, Benchmark boosted their price objective on Belite Bio from $80.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, October 31st.

Belite Bio Stock Performance

Shares of NASDAQ:BLTE opened at $113.19 on Friday. Belite Bio has a 52 week low of $49.00 and a 52 week high of $117.89. The company has a market cap of $3.60 billion, a PE ratio of -73.03 and a beta of -1.42. The firm has a 50 day simple moving average of $80.95 and a 200 day simple moving average of $69.24.

Belite Bio (NASDAQ:BLTE) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.03). During the same period in the previous year, the firm earned ($0.31) earnings per share. On average, equities analysts predict that Belite Bio will post -1.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. bought a new position in Belite Bio during the first quarter valued at about $5,538,000. High Net Worth Advisory Group LLC acquired a new stake in Belite Bio during the third quarter worth $259,000. GAMMA Investing LLC increased its holdings in Belite Bio by 11.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after buying an additional 176 shares during the period. EverSource Wealth Advisors LLC acquired a new position in shares of Belite Bio in the 2nd quarter valued at $147,000. Finally, Marshall Wace LLP bought a new position in shares of Belite Bio during the 2nd quarter worth about $547,000. 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.