Belite Bio (NASDAQ:BLTE) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Belite Bio (NASDAQ:BLTE) in a research note issued to investors on Thursday, Benzinga reports.

Several other research firms have also commented on BLTE. HC Wainwright restated a buy rating and issued a $59.00 price objective on shares of Belite Bio in a research report on Thursday, June 13th. Benchmark reaffirmed a buy rating and set a $57.00 target price on shares of Belite Bio in a research note on Thursday, May 16th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belite Bio presently has a consensus rating of Buy and an average price target of $44.83.

Belite Bio Stock Down 1.5 %

Shares of NASDAQ BLTE opened at $48.92 on Thursday. The business’s 50 day moving average price is $43.48 and its 200 day moving average price is $43.90. The firm has a market cap of $1.46 billion, a P/E ratio of -41.46 and a beta of -1.43. Belite Bio has a 52 week low of $11.00 and a 52 week high of $50.15.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.07. As a group, research analysts expect that Belite Bio will post -1.08 earnings per share for the current year.

Institutional Inflows and Outflows

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