FY2024 EPS Estimates for Belite Bio Lowered by HC Wainwright

Belite Bio, Inc (NASDAQ:BLTE) – Investment analysts at HC Wainwright reduced their FY2024 earnings estimates for shares of Belite Bio in a research report issued to clients and investors on Wednesday, November 13th. HC Wainwright analyst Y. Chen now expects that the company will post earnings of ($1.18) per share for the year, down from their prior estimate of ($1.12). HC Wainwright currently has a “Buy” rating and a $100.00 target price on the stock. The consensus estimate for Belite Bio’s current full-year earnings is ($1.21) per share. HC Wainwright also issued estimates for Belite Bio’s Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.32) EPS and FY2025 earnings at ($1.29) EPS.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02. During the same period in the previous year, the business earned ($0.40) EPS.

BLTE has been the subject of several other research reports. Maxim Group raised their price objective on shares of Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Benchmark restated a “buy” rating and issued a $57.00 price target on shares of Belite Bio in a research note on Tuesday, August 13th.

Belite Bio Price Performance

Shares of Belite Bio stock opened at $82.81 on Monday. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -74.60 and a beta of -1.60. The business has a 50-day moving average of $59.22 and a 200 day moving average of $51.68. Belite Bio has a 12 month low of $31.00 and a 12 month high of $86.53.

Institutional Trading of Belite Bio

Several hedge funds have recently added to or reduced their stakes in BLTE. Armistice Capital LLC acquired a new position in Belite Bio during the 2nd quarter worth approximately $6,761,000. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 443 shares in the last quarter. State Street Corp increased its holdings in Belite Bio by 28.2% in the third quarter. State Street Corp now owns 20,086 shares of the company’s stock valued at $942,000 after buying an additional 4,415 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Belite Bio in the third quarter valued at $253,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

About Belite Bio

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.