Belite Bio (NASDAQ:BLTE) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Belite Bio (NASDAQ:BLTE) in a report released on Wednesday morning, Marketbeat reports. HC Wainwright currently has a $185.00 target price on the stock.

A number of other equities analysts also recently issued reports on BLTE. Wall Street Zen downgraded shares of Belite Bio from a “hold” rating to a “sell” rating in a research note on Sunday, January 4th. Cantor Fitzgerald initiated coverage on Belite Bio in a research report on Monday, November 24th. They issued an “overweight” rating and a $154.00 target price for the company. Maxim Group set a $200.00 price target on Belite Bio in a research report on Tuesday, December 2nd. BTIG Research set a $187.00 price target on Belite Bio in a research note on Wednesday, December 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Belite Bio in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.75.

Belite Bio Stock Down 1.0%

Shares of Belite Bio stock opened at $165.64 on Wednesday. The business has a 50 day moving average of $151.82 and a 200 day moving average of $103.74. Belite Bio has a 52 week low of $49.00 and a 52 week high of $174.78. The company has a market cap of $6.21 billion, a PE ratio of -86.27 and a beta of -1.46.

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

Institutional Investors Weigh In On Belite Bio

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Belite Bio by 11.1% during the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after acquiring an additional 176 shares in the last quarter. Bank of America Corp DE increased its stake in Belite Bio by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after purchasing an additional 257 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Belite Bio in the fourth quarter worth about $103,000. Yeomans Consulting Group Inc. bought a new position in shares of Belite Bio in the fourth quarter worth approximately $384,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Belite Bio in the second quarter worth approximately $147,000. 0.53% of the stock is owned by institutional investors.

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.