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

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $179.75.

Several brokerages recently commented on BLTE. BTIG Research set a $187.00 price objective on shares of Belite Bio in a research report on Wednesday, December 3rd. Maxim Group set a $200.00 price objective on shares of Belite Bio in a research note on Tuesday, December 2nd. Mizuho set a $194.00 target price on Belite Bio and gave the company an “outperform” rating in a research report on Tuesday, December 2nd. Cantor Fitzgerald initiated coverage on Belite Bio in a research report on Monday, November 24th. They set an “overweight” rating and a $154.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $185.00 price objective on shares of Belite Bio in a report on Wednesday, January 28th.

Belite Bio Stock Up 0.4%

Belite Bio stock opened at $175.26 on Friday. The firm has a market cap of $6.57 billion, a P/E ratio of -91.28 and a beta of -1.46. The business has a fifty day moving average of $161.54 and a two-hundred day moving average of $113.45. Belite Bio has a twelve month low of $49.00 and a twelve month high of $200.00.

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

Institutional Trading of Belite Bio

Large investors have recently made changes to their positions in the business. RA Capital Management L.P. purchased a new position in shares of Belite Bio during the 3rd quarter valued at about $64,750,000. Vestal Point Capital LP acquired a new stake in Belite Bio during the third quarter worth about $23,125,000. Marshall Wace LLP raised its position in Belite Bio by 1,876.6% during the third quarter. Marshall Wace LLP now owns 187,500 shares of the company’s stock valued at $13,875,000 after acquiring an additional 178,014 shares in the last quarter. UBS Group AG lifted its holdings in Belite Bio by 1,036.0% in the fourth quarter. UBS Group AG now owns 128,752 shares of the company’s stock valued at $20,595,000 after acquiring an additional 117,418 shares during the period. Finally, Western Standard LLC acquired a new position in Belite Bio in the fourth quarter valued at approximately $9,602,000. 0.53% of the stock is owned by hedge funds and other institutional investors.

About Belite Bio

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.