Brokerages Set Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Target Price at $202.33
by Michael Walen · The Markets DailyBelite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Get Free Report) has been assigned an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $202.3333.
BLTE has been the topic of several recent research reports. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Cantor Fitzgerald boosted their target price on Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Bank of America initiated coverage on Belite Bio in a report on Monday, January 26th. They set a “buy” rating and a $195.00 target price on the stock. Benchmark restated a “buy” rating on shares of Belite Bio in a report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a report on Tuesday.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in BLTE. Caitong International Asset Management Co. Ltd lifted its holdings in Belite Bio by 28,200.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock valued at $45,000 after acquiring an additional 282 shares during the last quarter. Bank of America Corp DE lifted its holdings in Belite Bio by 28.1% in the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after acquiring an additional 257 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Belite Bio in the fourth quarter valued at approximately $103,000. Persistent Asset Partners Ltd acquired a new position in Belite Bio in the fourth quarter valued at approximately $108,000. Finally, GAMMA Investing LLC lifted its holdings in Belite Bio by 11.1% in 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 during the last quarter. 0.53% of the stock is currently owned by institutional investors and hedge funds.
Belite Bio Trading Up 5.3%
NASDAQ:BLTE opened at $178.73 on Monday. Belite Bio has a 12 month low of $49.00 and a 12 month high of $200.00. The stock has a 50 day moving average of $171.72 and a two-hundred day moving average of $140.82. The firm has a market cap of $7.03 billion, a P/E ratio of -77.71 and a beta of -1.22.
Belite Bio (NASDAQ:BLTE – Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.18. On average, research analysts forecast that Belite Bio will post -1.17 earnings per share for the current year.
Belite Bio Company Profile
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.