FY2025 EPS Estimates for Belite Bio Cut by Cantor Fitzgerald

Belite Bio, Inc (NASDAQ:BLTE - Free Report) - Investment analysts at Cantor Fitzgerald cut their FY2025 earnings per share estimates for shares of Belite Bio in a research note issued on Thursday, May 15th. Cantor Fitzgerald analyst J. Kim now expects that the company will post earnings of ($1.48) per share for the year, down from their previous forecast of ($1.36). Cantor Fitzgerald currently has a "Overweight" rating on the stock. 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 company. Benchmark reiterated a "buy" rating and set a $80.00 price target on shares of Belite Bio in a report on Wednesday, March 26th. HC Wainwright reiterated a "buy" rating and issued a $100.00 target price on shares of Belite Bio in a research note on Thursday.

Belite Bio Stock Performance

Shares of BLTE stock opened at $64.40 on Monday. The stock's 50 day simple moving average is $61.82 and its 200 day simple moving average is $63.03. Belite Bio has a twelve month low of $43.70 and a twelve month high of $86.53. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -58.02 and a beta of -1.48.

Belite Bio (NASDAQ:BLTE - Get Free Report) last posted its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02).

Institutional Trading of Belite Bio

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in Belite Bio by 9,391.6% in the 1st quarter. GAMMA Investing LLC now owns 122,441 shares of the company's stock worth $8,108,000 after buying an additional 121,151 shares during the period. Alyeska Investment Group L.P. acquired a new position in Belite Bio during the 1st quarter valued at $5,538,000. Bank of America Corp DE boosted its holdings in Belite Bio by 36.4% in 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 during the period. JPMorgan Chase & Co. grew its position in Belite Bio by 130.3% in the 4th quarter. JPMorgan Chase & Co. now owns 14,636 shares of the company's stock worth $924,000 after purchasing an additional 8,280 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Belite Bio by 30.9% in the 4th quarter. XTX Topco Ltd now owns 7,062 shares of the company's stock worth $446,000 after purchasing an additional 1,668 shares during the last quarter. Institutional investors own 0.53% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.