Leerink Partnrs Weighs in on Belite Bio FY2029 Earnings

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Free Report) - Analysts at Leerink Partnrs issued their FY2029 EPS estimates for shares of Belite Bio in a report released on Monday, July 7th. Leerink Partnrs analyst M. Goodman expects that the company will post earnings of $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 research firms also recently commented on BLTE. Cantor Fitzgerald restated an "overweight" rating on shares of Belite Bio in a research report on Thursday, May 15th. Wall Street Zen downgraded shares of Belite Bio from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. HC Wainwright reiterated a "buy" rating and issued a $100.00 target price on shares of Belite Bio in a report on Thursday, July 3rd. Finally, Benchmark reiterated a "buy" rating and issued a $80.00 target price on shares of Belite Bio in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Belite Bio presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.67.

Belite Bio Stock Performance

Shares of BLTE stock traded up $1.19 during midday trading on Wednesday, reaching $63.22. 180,040 shares of the company were exchanged, compared to its average volume of 46,447. Belite Bio has a 12 month low of $43.70 and a 12 month high of $86.53. The company has a market cap of $2.01 billion, a P/E ratio of -46.49 and a beta of -1.50. The company's 50 day moving average price is $61.70 and its two-hundred day moving average price is $60.47.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Belite Bio by 43.3% in the first quarter. GAMMA Investing LLC now owns 1,849 shares of the company's stock worth $122,000 after acquiring an additional 559 shares in the last quarter. XTX Topco Ltd increased its position in shares of Belite Bio by 30.9% in 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 in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Belite Bio in the fourth quarter worth approximately $155,000. Bank of America Corp DE increased its position in shares of Belite Bio by 36.4% in 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Belite Bio by 130.3% in 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 in the last quarter. 0.53% of the stock is owned by hedge funds and other 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.