Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Receives $175.33 Consensus Price Target from Analysts

by · The Markets Daily

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Get Free Report) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $175.3333.

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Research upgraded shares of Belite Bio from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Maxim Group set a $200.00 price objective on shares of Belite Bio in a research report on Tuesday, December 2nd. Mizuho set a $194.00 price objective on shares of Belite Bio and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Belite Bio in a research note on Wednesday, October 8th.

Get Our Latest Analysis on BLTE

Belite Bio Price Performance

Shares of BLTE opened at $165.29 on Friday. The firm has a 50 day simple moving average of $128.41 and a two-hundred day simple moving average of $88.63. Belite Bio has a one year low of $49.00 and a one year high of $169.75. The company has a market cap of $6.20 billion, a P/E ratio of -86.09 and a beta of -1.45.

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

Hedge Funds Weigh In On Belite Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Alyeska Investment Group L.P. bought a new position in Belite Bio in the 1st quarter valued at approximately $5,538,000. Polymer Capital Management HK LTD bought a new stake in Belite Bio during the 3rd quarter worth approximately $538,000. RA Capital Management L.P. acquired a new position in Belite Bio in the 3rd quarter valued at approximately $64,750,000. Millennium Management LLC bought a new position in shares of Belite Bio during the third quarter valued at $1,535,000. Finally, Citadel Advisors LLC grew its stake in shares of Belite Bio by 45.2% in the third quarter. Citadel Advisors LLC now owns 10,827 shares of the company’s stock worth $801,000 after purchasing an additional 3,371 shares during the last quarter. 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.

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