Belite Bio (NASDAQ:BLTE) Price Target Raised to $200.00

by · The Markets Daily

Belite Bio (NASDAQ:BLTE – Free Report) had its target price hoisted by HC Wainwright from $185.00 to $200.00 in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Mizuho set a $223.00 price target on Belite Bio in a research report on Thursday, February 19th. Maxim Group set a $200.00 price objective on Belite Bio in a research note on Tuesday, December 2nd. Cantor Fitzgerald increased their target price on shares of Belite Bio from $200.00 to $266.00 and gave the company an “overweight” rating in a research report on Tuesday. Benchmark restated a “buy” rating on shares of Belite Bio in a report on Tuesday. Finally, Morgan Stanley upped their price objective on shares of Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $202.33.

Get Our Latest Stock Report on BLTE

Belite Bio Stock Performance

BLTE stock opened at $172.57 on Tuesday. The company has a fifty day moving average price of $169.74 and a 200-day moving average price of $124.02. The company has a market capitalization of $6.47 billion, a P/E ratio of -75.03 and a beta of -1.46. Belite Bio has a 52-week low of $49.00 and a 52-week high of $200.00.

Belite Bio (NASDAQ:BLTE – Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.18. As a group, sell-side analysts forecast that Belite Bio will post -1.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Belite Bio

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new stake in shares of Belite Bio in the 2nd quarter valued at about $147,000. Marshall Wace LLP bought a new position in Belite Bio in the second quarter worth approximately $547,000. BNP Paribas Financial Markets acquired a new stake in Belite Bio in the second quarter valued at approximately $190,000. GAMMA Investing LLC increased its holdings in shares of Belite Bio by 11.1% during the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after acquiring an additional 176 shares in the last quarter. Finally, High Net Worth Advisory Group LLC acquired a new position in shares of Belite Bio during the third quarter worth approximately $259,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

Belite Bio Company Profile

(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.

See Also