Leerink Partnrs Predicts Belite Bio FY2029 Earnings

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

BLTE has been the subject of a number of other reports. Wall Street Zen downgraded shares of Belite Bio from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Cantor Fitzgerald reissued an "overweight" rating on shares of Belite Bio in a report on Thursday, May 15th. Benchmark reissued a "buy" rating and issued a $80.00 price target on shares of Belite Bio in a report on Wednesday, March 26th. Finally, HC Wainwright reissued a "buy" rating and issued a $100.00 price target on shares of Belite Bio in a report on Thursday, July 3rd. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, Belite Bio currently has a consensus rating of "Moderate Buy" and an average target price of $96.67.

Belite Bio Price Performance

Shares of NASDAQ BLTE traded down $2.13 during trading hours on Wednesday, hitting $62.03. 39,840 shares of the company's stock were exchanged, compared to its average volume of 45,912. Belite Bio has a 1-year low of $43.70 and a 1-year high of $86.53. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -45.61 and a beta of -1.50. The company's 50-day moving average price is $61.70 and its 200-day moving average price is $60.47.

Institutional Trading of Belite Bio

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Belite Bio by 130.3% in the fourth quarter. JPMorgan Chase & Co. now owns 14,636 shares of the company's stock valued at $924,000 after acquiring an additional 8,280 shares during the period. XTX Topco Ltd increased its stake in Belite Bio by 30.9% in the fourth quarter. XTX Topco Ltd now owns 7,062 shares of the company's stock valued at $446,000 after acquiring an additional 1,668 shares during the period. BNP Paribas Financial Markets bought a new stake in Belite Bio in the fourth quarter valued at about $155,000. Bank of America Corp DE increased its stake in Belite Bio by 36.4% in the fourth quarter. Bank of America Corp DE now owns 18,342 shares of the company's stock valued at $1,157,000 after acquiring an additional 4,891 shares during the period. Finally, GAMMA Investing LLC increased its stake 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 acquiring an additional 121,151 shares during the period. Institutional investors and hedge funds own 0.53% of the company's stock.

About Belite Bio

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.