Belite Bio (NASDAQ:BLTE) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Belite Bio (NASDAQ:BLTE – Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

Several other research firms have also recently commented on BLTE. Cantor Fitzgerald started coverage on shares of Belite Bio in a report on Monday, November 24th. They set an “overweight” rating and a $154.00 price target on the stock. Benchmark restated a “buy” rating on shares of Belite Bio in a research note on Wednesday, December 3rd. Zacks Research raised Belite Bio from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. BTIG Research set a $187.00 price target on Belite Bio in a report on Wednesday, December 3rd. Finally, Mizuho set a $194.00 price target on Belite Bio and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.33.

Read Our Latest Report on BLTE

Belite Bio Price Performance

Shares of BLTE opened at $165.29 on Friday. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of -86.09 and a beta of -1.45. Belite Bio has a fifty-two week low of $49.00 and a fifty-two week high of $169.75. The business’s 50-day moving average is $128.41 and its 200-day moving average is $88.63.

Belite Bio (NASDAQ:BLTE – Get Free Report) last posted its quarterly earnings results on Monday, December 1st. The company reported $0.95 EPS for the quarter. Equities research analysts expect that Belite Bio will post -1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. acquired a new stake in Belite Bio in the 3rd quarter worth approximately $64,750,000. Vestal Point Capital LP bought a new position in shares of Belite Bio in the third quarter valued at approximately $23,125,000. Marshall Wace LLP lifted its stake in shares of Belite Bio by 1,876.6% in the third quarter. Marshall Wace LLP now owns 187,500 shares of the company’s stock worth $13,875,000 after buying an additional 178,014 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Belite Bio during the 1st quarter worth $5,538,000. Finally, Millennium Management LLC acquired a new position in Belite Bio in the 3rd quarter valued at $1,535,000. 0.53% of the stock is owned by institutional investors.

About Belite Bio

(Get Free Report)

Belite Bio, Inc (NASDAQ: BLTE) is a clinical-stage biotechnology company focused on discovering and developing small molecule therapeutics for metabolic and inflammatory diseases. Leveraging a proprietary drug-discovery platform, the company aims to address conditions such as nonalcoholic steatohepatitis (NASH) and obesity by targeting pathways involved in fibrosis, inflammation and metabolic regulation.

Belite Bio’s pipeline includes multiple candidates in preclinical and early clinical development stages.

Featured Stories