Belite Bio, Inc (NASDAQ:BLTE – Get Free Report) saw unusually-high trading volume on Tuesday after HC Wainwright raised their price target on the stock from $55.00 to $59.00. HC Wainwright currently has a buy rating on the stock. Approximately 97,119 shares were traded during trading, an increase of 77% from the previous session’s volume of 54,797 shares.The stock last traded at $37.32 and had previously closed at $39.23.
A number of other research analysts also recently issued reports on BLTE. Leerink Partnrs reaffirmed an “outperform” rating on shares of Belite Bio in a research report on Wednesday, July 26th. Benchmark reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Belite Bio in a research report on Tuesday, July 25th. SVB Securities initiated coverage on shares of Belite Bio in a research report on Wednesday, July 26th. They issued an “outperform” rating and a $25.00 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of Belite Bio in a research report on Friday, July 28th. They issued an “overweight” rating and a $43.00 price objective on the stock. Finally, SVB Leerink reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Belite Bio in a research report on Wednesday, July 26th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $41.80.
Institutional Trading of Belite Bio
Belite Bio Stock Performance
The firm’s 50 day simple moving average is $33.25 and its 200 day simple moving average is $25.28.
Belite Bio (NASDAQ:BLTE – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.03). Equities research analysts predict that Belite Bio, Inc will post -1.27 earnings per share for the current year.
Belite Bio Company Profile
Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting atrophic age-related macular degeneration and autosomal recessive stargardt diseases (STGD1). Its lead product candidate is LBS-008 (Tinlarebant), an orally administered, once-a-day tablet for maintaining the health and integrity of retinal tissues in STGD1 and GA patients.
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