Belite Bio FY2024 EPS Estimate Boosted by Leerink Partnrs

Belite Bio, Inc (NASDAQ:BLTE) – Equities research analysts at Leerink Partnrs boosted their FY2024 EPS estimates for Belite Bio in a report issued on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings of ($1.15) per share for the year, up from their previous forecast of ($1.27). The consensus estimate for Belite Bio’s current full-year earnings is ($1.21) per share. Leerink Partnrs also issued estimates for Belite Bio’s Q4 2024 earnings at ($0.29) EPS, FY2027 earnings at $1.00 EPS and FY2028 earnings at $4.60 EPS.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. During the same period in the prior year, the business posted ($0.40) EPS.

Several other equities analysts have also issued reports on BLTE. Benchmark lifted their target price on shares of Belite Bio from $57.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Maxim Group boosted their target price on Belite Bio from $60.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, HC Wainwright lifted their price target on Belite Bio from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Belite Bio Stock Up 3.8 %

NASDAQ:BLTE opened at $59.60 on Friday. Belite Bio has a twelve month low of $31.00 and a twelve month high of $86.53. The stock has a market cap of $1.84 billion, a P/E ratio of -53.69 and a beta of -1.56. The firm’s fifty day simple moving average is $62.00 and its 200 day simple moving average is $57.95.

Institutional Investors Weigh In On Belite Bio

A number of institutional investors and hedge funds have recently bought and sold shares of BLTE. Advisors Preferred LLC bought a new stake in Belite Bio during the 4th quarter valued at approximately $52,000. GAMMA Investing LLC grew its stake in Belite Bio by 48.1% during the fourth quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock valued at $81,000 after acquiring an additional 419 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Belite Bio by 7,122.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock valued at $298,000 after acquiring an additional 6,268 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Belite Bio during the 3rd quarter valued at about $253,000. Finally, State Street Corp increased its holdings in shares of Belite Bio by 28.2% in the third quarter. State Street Corp now owns 20,086 shares of the company’s stock worth $942,000 after purchasing an additional 4,415 shares during the last quarter. 0.53% of the stock is owned by institutional investors.

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.