Belite Bio, Inc. Sponsored ADR (BLTE) - What Are Analysts Saying About This Stock?

Key Points

• Analysts maintain a “Moderate Buy” consensus on Belite Bio, with eight buys, two holds and one sell among 11 firms. The average 12-month price target is $218.73, above the stock’s reported $150.27 price.
• Recent analyst views were mixed: Cantor Fitzgerald raised its target to $270 and HC Wainwright reiterated a $245 buy target, while Jefferies and Zacks maintained or moved to hold ratings and Weiss reaffirmed a sell rating.
• Company insiders have been selling shares: the CEO and CFO sold a combined 123,868 shares for roughly $23.25 million, while total insider sales over the past three months reached 169,062 shares valued at $32.1 million.

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $218.73.

BLTE has been the subject of several recent research reports. Cantor Fitzgerald boosted their price target on shares of Belite Bio from $266.00 to $270.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Belite Bio in a research note on Wednesday, September 9th. Zacks Research cut Belite Bio from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 18th. HC Wainwright reissued a "buy" rating and issued a $245.00 target price on shares of Belite Bio in a research note on Thursday, October 15th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Belite Bio in a report on Friday, October 2nd.

Insider Buying and Selling

In other Belite Bio news, CFO Hao-Yuan Chuang sold 49,433 shares of the business's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $187.64, for a total value of $9,275,608.12. Following the transaction, the chief financial officer owned 44,000 shares in the company, valued at approximately $8,256,160. The trade was a 52.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yu-Hsin Lin sold 74,435 shares of the business's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $187.71, for a total transaction of $13,972,193.85. Following the completion of the transaction, the chief executive officer owned 96,134 shares in the company, valued at $18,045,313.14. The trade was a 43.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 169,062 shares of company stock valued at $32,101,134 over the last three months. 13.29% of the stock is owned by company insiders.

Institutional Trading of Belite Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in shares of Belite Bio in the 1st quarter valued at approximately $8,291,000. Affinity Asset Advisors LLC grew its position in shares of Belite Bio by 225.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 65,000 shares of the company's stock worth $10,364,000 after buying an additional 45,000 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Belite Bio in the 1st quarter worth about $3,125,000. Amundi bought a new position in shares of Belite Bio in the 1st quarter worth about $671,000. Finally, Bank of America Corp DE lifted its position in Belite Bio by 104.0% during the 1st quarter. Bank of America Corp DE now owns 3,778 shares of the company's stock valued at $602,000 after acquiring an additional 1,926 shares during the period. 0.53% of the stock is currently owned by hedge funds and other institutional investors.

Belite Bio Stock Performance

BLTE stock opened at $150.27 on Friday. The company has a market capitalization of $6.05 billion, a PE ratio of -55.04 and a beta of -1.23. Belite Bio has a one year low of $89.15 and a one year high of $200.00. The company's 50 day moving average price is $163.92 and its two-hundred day moving average price is $157.27.

Belite Bio (NASDAQ:BLTE - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.54) earnings per share (EPS) for the quarter. On average, research analysts predict that Belite Bio will post -3.08 EPS for the current year.

Belite Bio Company Profile

Belite Bio, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for eye diseases that can cause severe vision loss. The company's research is centered on therapies that target the visual cycle, a biological process involved in the production and recycling of vitamin A in the retina.

Belite Bio's lead product candidate is tinlarebant, also known as LBS-008. The orally administered therapy is designed to reduce the formation and accumulation of toxic vitamin A byproducts in the eye.

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