FY2024 EPS Estimates for Belite Bio, Inc Lowered by Analyst (NASDAQ:BLTE)

Belite Bio, Inc (NASDAQ:BLTE - Free Report) - Cantor Fitzgerald lowered their FY2024 EPS estimates for shares of Belite Bio in a research note issued on Wednesday, May 15th. Cantor Fitzgerald analyst J. Kim now expects that the company will earn ($1.04) per share for the year, down from their prior estimate of ($0.90). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for Belite Bio's current full-year earnings is ($0.63) per share.

Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its earnings results on Monday, March 11th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.11.

Several other analysts have also recently weighed in on BLTE. HC Wainwright reissued a "buy" rating and issued a $59.00 price target on shares of Belite Bio in a research note on Wednesday. Benchmark restated a "buy" rating and issued a $57.00 target price on shares of Belite Bio in a research report on Thursday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $44.83.

Belite Bio Price Performance

Shares of BLTE traded up $2.59 during mid-day trading on Friday, reaching $44.97. The stock had a trading volume of 105,561 shares, compared to its average volume of 54,325. Belite Bio has a 52-week low of $11.00 and a 52-week high of $48.60. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -38.11 and a beta of -1.52. The business's fifty day moving average is $40.09 and its 200 day moving average is $42.32.

Hedge Funds Weigh In On Belite Bio

A hedge fund recently bought a new stake in Belite Bio stock. Jump Financial LLC acquired a new stake in Belite Bio, Inc (NASDAQ:BLTE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,200 shares of the company's stock, valued at approximately $238,000. 0.53% of the stock is owned by institutional investors and hedge funds.

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.