Leerink Partnrs Increases Earnings Estimates for Belite Bio

Belite Bio, Inc (NASDAQ:BLTE) – Stock analysts at Leerink Partnrs upped their FY2024 EPS estimates for Belite Bio in a research note issued on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings of ($1.15) per share for the year, up from their prior estimate of ($1.27). The consensus estimate for Belite Bio’s current full-year earnings is ($1.21) per share. Leerink Partnrs also issued estimates for Belite Bio’s Q4 2024 earnings at ($0.29) EPS, FY2027 earnings at $1.00 EPS and FY2028 earnings at $4.60 EPS.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. During the same period in the prior year, the business posted ($0.40) EPS.

A number of other research firms have also commented on BLTE. HC Wainwright upped their price target on Belite Bio from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Maxim Group upped their target price on Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Benchmark raised their price target on shares of Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st.

Belite Bio Price Performance

BLTE opened at $58.04 on Friday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -52.29 and a beta of -1.56. Belite Bio has a fifty-two week low of $31.00 and a fifty-two week high of $86.53. The company’s 50 day moving average price is $61.56 and its two-hundred day moving average price is $58.01.

Hedge Funds Weigh In On Belite Bio

Institutional investors have recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in shares of Belite Bio during the fourth quarter worth about $52,000. GAMMA Investing LLC grew its holdings in Belite Bio by 103.5% during the third quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $41,000 after buying an additional 443 shares in the last quarter. XTX Topco Ltd purchased a new stake in Belite Bio in the 3rd quarter valued at $253,000. JPMorgan Chase & Co. lifted its stake in Belite Bio by 7,122.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock valued at $298,000 after acquiring an additional 6,268 shares in the last quarter. Finally, State Street Corp boosted its holdings in Belite Bio by 28.2% during the 3rd quarter. State Street Corp now owns 20,086 shares of the company’s stock worth $942,000 after acquiring an additional 4,415 shares during the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

Belite Bio Company Profile

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.