FY2024 EPS Estimate for Belite Bio Decreased by Analyst

Belite Bio, Inc (NASDAQ:BLTE) – Analysts at HC Wainwright dropped their FY2024 earnings per share estimates for shares of Belite Bio in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst Y. Chen now anticipates that the company will post earnings of ($1.18) per share for the year, down from their previous estimate of ($1.12). HC Wainwright currently has a “Buy” rating and a $100.00 target price on the stock. The consensus estimate for Belite Bio’s current full-year earnings is ($1.21) per share. HC Wainwright also issued estimates for Belite Bio’s Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.32) EPS and FY2025 earnings at ($1.29) EPS.

A number of other equities research analysts have also recently issued reports on the company. Benchmark restated a “buy” rating and set a $57.00 price objective on shares of Belite Bio in a report on Tuesday, August 13th. Maxim Group lifted their price target on shares of Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a research report on Friday.

Belite Bio Stock Performance

NASDAQ BLTE opened at $82.76 on Monday. Belite Bio has a 52-week low of $31.00 and a 52-week high of $86.53. The stock has a market cap of $2.53 billion, a PE ratio of -74.56 and a beta of -1.60. The firm has a 50-day moving average of $59.90 and a 200-day moving average of $51.97.

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

Institutional Investors Weigh In On Belite Bio

Several institutional investors and hedge funds have recently bought and sold shares of the company. Armistice Capital LLC acquired a new position in shares of Belite Bio in the 2nd quarter valued at approximately $6,761,000. GAMMA Investing LLC boosted its position in shares of Belite Bio by 103.5% during the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 443 shares in the last quarter. State Street Corp increased its stake in Belite Bio by 28.2% in the third quarter. State Street Corp now owns 20,086 shares of the company’s stock valued at $942,000 after acquiring an additional 4,415 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Belite Bio during the third quarter valued at approximately $253,000. Institutional investors own 0.53% of the company’s stock.

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.