Belite Bio (NASDAQ:BLTE) Rating Reiterated by HC Wainwright

HC Wainwright reissued their buy rating on shares of Belite Bio (NASDAQ:BLTE) in a research note issued to investors on Thursday, Benzinga reports. HC Wainwright currently has a $60.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald restated an overweight rating on shares of Belite Bio in a report on Thursday, June 20th. Benchmark reaffirmed a buy rating and set a $57.00 target price on shares of Belite Bio in a research note on Tuesday, August 13th.

Belite Bio Stock Up 0.2 %

NASDAQ BLTE opened at $48.82 on Thursday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -41.37 and a beta of -1.49. The company has a 50-day simple moving average of $48.86 and a two-hundred day simple moving average of $45.34. Belite Bio has a 12-month low of $28.51 and a 12-month high of $50.66.

Belite Bio (NASDAQ:BLTE) last issued its earnings results on Friday, August 9th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Equities analysts expect that Belite Bio will post -1.19 earnings per share for the current fiscal year.

Institutional Trading of Belite Bio

An institutional investor recently bought a new position in Belite Bio stock. Jump Financial LLC bought a new stake in shares of Belite Bio, Inc (NASDAQ:BLTE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,200 shares of the company’s stock, valued at approximately $238,000. 0.53% of the stock is currently owned by hedge funds and other institutional investors.

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.