Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Belite Bio, Inc. has received an average analyst rating of "Moderate Buy," with four out of five analysts recommending a buy, while one holds a hold rating.
• The company's current market capitalization is $2.32 billion, with a P/E ratio of -47.10 and a 12-month price range between $43.70 and $86.53.
• Recently, several institutional investors have increased their stakes in Belite Bio, highlighting growing interest in the company among financial institutions.

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) have earned an average rating of "Moderate Buy" from the five analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $96.00.

A number of brokerages have issued reports on BLTE. Zacks Research raised shares of Belite Bio from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Wall Street Zen lowered shares of Belite Bio from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, HC Wainwright decreased their price target on shares of Belite Bio from $100.00 to $98.00 and set a "buy" rating for the company in a research note on Monday.

Belite Bio Trading Up 9.1%

Shares of Belite Bio stock opened at $73.00 on Thursday. The company's fifty day simple moving average is $65.31 and its two-hundred day simple moving average is $62.97. The company has a market cap of $2.32 billion, a P/E ratio of -47.10 and a beta of -1.50. Belite Bio has a 12-month low of $43.70 and a 12-month 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.47) by ($0.03). During the same quarter last year, the firm earned ($0.31) EPS. Analysts predict that Belite Bio will post -1.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in Belite Bio by 43.3% during the 1st quarter. GAMMA Investing LLC now owns 1,849 shares of the company's stock valued at $122,000 after purchasing an additional 559 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Belite Bio during the 2nd quarter valued at about $147,000. BNP Paribas Financial Markets bought a new stake in Belite Bio during the 4th quarter valued at about $155,000. Marshall Wace LLP bought a new stake in Belite Bio during the 2nd quarter valued at about $547,000. Finally, Bank of America Corp DE increased its stake in Belite Bio by 36.4% during the 4th quarter. Bank of America Corp DE now owns 18,342 shares of the company's stock valued at $1,157,000 after purchasing an additional 4,891 shares in the last quarter. 0.53% of the stock is currently owned by 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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