Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $177.5714.

A number of analysts have recently issued reports on BLTE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Belite Bio in a research note on Wednesday, October 8th. Cantor Fitzgerald started coverage on shares of Belite Bio in a report on Monday, November 24th. They issued an “overweight” rating and a $154.00 target price on the stock. Mizuho set a $194.00 price target on Belite Bio and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Maxim Group set a $200.00 price target on shares of Belite Bio in a research note on Tuesday, December 2nd. Finally, Morgan Stanley began coverage on Belite Bio in a report on Tuesday, January 6th. They set an “overweight” rating and a $191.00 target price for the company.

Belite Bio Price Performance

Belite Bio stock opened at $160.01 on Wednesday. The stock has a market capitalization of $6.00 billion, a PE ratio of -83.34 and a beta of -1.46. The business has a 50 day simple moving average of $146.25 and a 200-day simple moving average of $99.75. Belite Bio has a 12 month low of $49.00 and a 12 month high of $170.24.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings results on Monday, December 1st. The company reported $0.95 earnings per share (EPS) for the quarter. On average, equities research analysts anticipate that Belite Bio will post -1.17 EPS for the current fiscal year.

Institutional Trading of Belite Bio

Hedge funds and other institutional investors have recently made changes to their positions in the company. High Net Worth Advisory Group LLC purchased a new position in shares of Belite Bio in the 3rd quarter valued at about $259,000. GAMMA Investing LLC grew its stake in Belite Bio by 11.1% during the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock worth $130,000 after buying an additional 176 shares during the period. Citadel Advisors LLC raised its position in Belite Bio by 45.2% in the third quarter. Citadel Advisors LLC now owns 10,827 shares of the company’s stock valued at $801,000 after purchasing an additional 3,371 shares during the period. Bank of America Corp DE lifted its stake in shares of Belite Bio by 28.1% during the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock worth $87,000 after purchasing an additional 257 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Belite Bio in the third quarter worth about $224,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

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.