Belite Bio FY2029 EPS Forecast Decreased by Leerink Partnrs

Key Points

• Belite Bio's FY2029 earnings per share forecast was reduced from $15.15 to $14.80 by Leerink Partners, while the current consensus estimate stands at ($1.17) per share.
• Several analysts have varying ratings on Belite Bio stock, with Cantor Fitzgerald maintaining an "overweight" rating, while others, including Wall Street Zen, downgraded the stock from a "hold" to a "sell."
• Belite Bio's stock is currently trading at $73.50 with a market capitalization of $2.34 billion, having experienced a significant price range over the past year between $43.70 and $86.53.

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Free Report) - Equities researchers at Leerink Partnrs cut their FY2029 earnings per share estimates for shares of Belite Bio in a report released on Monday, August 11th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn $14.80 per share for the year, down from their prior estimate of $15.15. The consensus estimate for Belite Bio's current full-year earnings is ($1.17) per share.

Other equities analysts also recently issued research reports about the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Belite Bio in a research note on Thursday, May 15th. HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of Belite Bio in a research note on Thursday, July 3rd. Finally, Wall Street Zen downgraded shares of Belite Bio from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.67.

Belite Bio Stock Performance

NASDAQ BLTE traded up $0.77 during trading on Wednesday, hitting $73.50. The stock had a trading volume of 2,824 shares, compared to its average volume of 43,371. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of -47.42 and a beta of -1.49. The stock has a 50 day simple moving average of $62.41 and a 200 day simple moving average of $61.41. Belite Bio has a one year low of $43.70 and a one year high of $86.53.

Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.03). During the same quarter in the previous year, the firm posted ($0.31) earnings per share.

Institutional Investors Weigh In On Belite Bio

Several hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. purchased a new stake in Belite Bio in the first quarter valued at $5,538,000. GAMMA Investing LLC raised its position in shares of Belite Bio by 43.3% in the first quarter. GAMMA Investing LLC now owns 1,849 shares of the company's stock worth $122,000 after acquiring an additional 559 shares during the period. Bank of America Corp DE raised its position in shares of Belite Bio by 36.4% in the fourth quarter. Bank of America Corp DE now owns 18,342 shares of the company's stock worth $1,157,000 after acquiring an additional 4,891 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Belite Bio in the fourth quarter worth about $155,000. Finally, XTX Topco Ltd raised its position in shares of Belite Bio by 30.9% in the fourth quarter. XTX Topco Ltd now owns 7,062 shares of the company's stock worth $446,000 after acquiring an additional 1,668 shares during the period. 0.53% of the stock is 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.

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