Belite Bio (NASDAQ:BLTE) Releases Earnings Results, Beats Estimates By $0.02 EPS

Belite Bio (NASDAQ:BLTE) issued its quarterly earnings data on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02, Zacks reports. During the same quarter in the previous year, the business earned ($0.40) EPS.

Belite Bio Stock Up 1.7 %

Shares of BLTE opened at $83.66 on Friday. The stock has a 50-day moving average of $58.53 and a two-hundred day moving average of $51.23. Belite Bio has a one year low of $31.00 and a one year high of $86.53.

Analyst Ratings Changes

A number of brokerages recently weighed in on BLTE. HC Wainwright raised their price objective on Belite Bio from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Benchmark reiterated a “buy” rating and set a $57.00 price objective on shares of Belite Bio in a research note on Tuesday, August 13th.

About Belite Bio

Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. The company’s lead product candidate is LBS-008 (Tinlarebant), an orally administered once-a-day tablet for maintaining the health and integrity of retinal tissues in autosomal recessive Stargardt disease and geographic atrophy patients.