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 eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $202.3333.

BLTE has been the subject of a number of recent research reports. Bank of America started coverage on Belite Bio in a research report on Monday, January 26th. They set a “buy” rating and a $195.00 price target for the company. BTIG Research set a $187.00 price objective on shares of Belite Bio in a report on Wednesday, December 3rd. Cantor Fitzgerald increased their target price on shares of Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Maxim Group set a $200.00 target price on shares of Belite Bio in a research report on Tuesday, December 2nd. Finally, Needham & Company LLC set a $217.00 price target on shares of Belite Bio in a research note on Tuesday, March 3rd.

Belite Bio Trading Down 0.1%

Shares of NASDAQ BLTE opened at $173.75 on Thursday. The company has a fifty day moving average price of $170.92 and a 200 day moving average price of $127.55. The firm has a market cap of $6.84 billion, a PE ratio of -75.54 and a beta of -1.46. Belite Bio has a 1-year low of $49.00 and a 1-year high of $200.00.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.18. Equities research analysts forecast that Belite Bio will post -1.17 EPS for the current year.

Institutional Trading of Belite Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its position in Belite Bio by 28,200.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock valued at $45,000 after purchasing an additional 282 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Belite Bio by 28.1% during the 3rd 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. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Belite Bio in the 4th quarter valued at approximately $103,000. Persistent Asset Partners Ltd acquired a new stake in shares of Belite Bio in the 4th quarter valued at approximately $108,000. Finally, GAMMA Investing LLC grew its stake in shares of Belite Bio by 11.1% in the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after buying an additional 176 shares in the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

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.