Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Given Average Rating of “Moderate Buy” by Analysts

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have received a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $96.00.

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Belite Bio in a report on Wednesday, October 8th. HC Wainwright decreased their price target on shares of Belite Bio from $100.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, September 15th. Finally, Zacks Research raised shares of Belite Bio from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th.

Belite Bio Price Performance

NASDAQ:BLTE opened at $79.28 on Monday. The company has a market cap of $2.52 billion, a P/E ratio of -51.15 and a beta of -1.46. The stock’s fifty day moving average price is $69.16 and its two-hundred day moving average price is $63.93. Belite Bio has a 1 year low of $49.00 and a 1 year high of $86.53.

Belite Bio (NASDAQ:BLTE) last posted its earnings results on Monday, August 11th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.03). During the same period in the previous year, the firm posted ($0.31) earnings per share. On average, analysts expect that Belite Bio will post -1.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BLTE. GAMMA Investing LLC increased its stake in Belite Bio by 43.3% in the first quarter. GAMMA Investing LLC now owns 1,849 shares of the company’s stock valued at $122,000 after acquiring an additional 559 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in Belite Bio in the first quarter valued at $5,538,000. EverSource Wealth Advisors LLC bought a new position in Belite Bio in the second quarter valued at $147,000. Marshall Wace LLP bought a new position in Belite Bio in the second quarter valued at $547,000. Finally, BNP Paribas Financial Markets bought a new position in Belite Bio in the second quarter valued at $190,000. Institutional investors 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.