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

Belite Bio (NASDAQ:BLTE)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $60.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 23.23% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Belite Bio in a research note on Thursday, June 20th. Benchmark reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Belite Bio in a research note on Tuesday, August 13th.

Belite Bio Trading Down 0.4 %

Shares of BLTE stock opened at $48.69 on Thursday. The company has a market capitalization of $1.45 billion, a P/E ratio of -41.26 and a beta of -1.49. The business’s 50 day moving average is $48.73 and its two-hundred day moving average is $45.31. Belite Bio has a 12-month low of $28.51 and a 12-month high of $50.66.

Belite Bio (NASDAQ:BLTE) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). On average, research analysts predict that Belite Bio will post -1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Belite Bio

An institutional investor recently bought a new position in Belite Bio stock. Jump Financial LLC purchased a new stake in Belite Bio, Inc (NASDAQ:BLTE) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,200 shares of the company’s stock, valued at approximately $238,000. 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.