Leerink Partnrs Weighs in on Belite Bio FY2029 Earnings

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Free Report) - Research analysts at Leerink Partnrs issued their FY2029 earnings per share estimates for shares of Belite Bio in a note issued to investors on Monday, July 7th. Leerink Partnrs analyst M. Goodman expects that the company will earn $15.15 per share for the year. The consensus estimate for Belite Bio's current full-year earnings is ($1.17) per share.

A number of other equities research analysts have also recently weighed in on BLTE. Wall Street Zen cut Belite Bio from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Belite Bio in a research note on Thursday, May 15th. Benchmark reiterated a "buy" rating and issued a $80.00 price target on shares of Belite Bio in a research note on Wednesday, March 26th. Finally, HC Wainwright reissued a "buy" rating and issued a $100.00 price objective on shares of Belite Bio in a report on Thursday, July 3rd. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Belite Bio presently has a consensus rating of "Moderate Buy" and an average price target of $96.67.

Belite Bio Stock Up 1.9%

Shares of NASDAQ BLTE traded up $1.19 during mid-day trading on Wednesday, reaching $63.22. 180,040 shares of the company were exchanged, compared to its average volume of 46,625. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -46.49 and a beta of -1.50. Belite Bio has a 1 year low of $43.70 and a 1 year high of $86.53. The firm has a 50-day moving average of $61.71 and a 200 day moving average of $60.46.

Institutional Trading of Belite Bio

Several hedge funds and other institutional investors have recently bought and sold shares of BLTE. JPMorgan Chase & Co. grew its holdings in Belite Bio by 130.3% during the fourth quarter. JPMorgan Chase & Co. now owns 14,636 shares of the company's stock worth $924,000 after acquiring an additional 8,280 shares during the period. XTX Topco Ltd grew its holdings in Belite Bio by 30.9% during 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. BNP Paribas Financial Markets acquired a new stake in Belite Bio during the fourth quarter worth about $155,000. Bank of America Corp DE grew its holdings in Belite Bio by 36.4% during 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. Finally, GAMMA Investing LLC grew its holdings in Belite Bio by 9,391.6% in the first quarter. GAMMA Investing LLC now owns 122,441 shares of the company's stock valued at $8,108,000 after purchasing an additional 121,151 shares during the period. 0.53% of the stock is owned by institutional investors and hedge funds.

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.