Belite Bio (NASDAQ:BLTE) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Belite Bio (NASDAQ:BLTE) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $60.00 price target on the stock.

Other analysts have also issued reports about the stock. Benchmark reiterated a buy rating and set a $57.00 target price on shares of Belite Bio in a research report on Tuesday, August 13th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Belite Bio in a report on Thursday, June 20th.

Belite Bio Stock Performance

NASDAQ BLTE opened at $48.82 on Thursday. The stock has a market capitalization of $1.49 billion, a PE ratio of -41.37 and a beta of -1.49. The stock has a 50-day simple moving average of $48.86 and a 200 day simple moving average of $45.34. Belite Bio has a twelve month low of $28.51 and a twelve 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). As a group, equities research analysts forecast 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. Jump Financial LLC acquired a new position in shares of Belite Bio, Inc (NASDAQ:BLTE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,200 shares of the company’s stock, valued at approximately $238,000. 0.53% of the stock is currently 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.