Belite Bio (NASDAQ:BLTE) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Belite Bio (NASDAQ:BLTE) posted its quarterly earnings results on Monday. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02), Zacks reports.

Belite Bio Trading Up 0.8 %

Shares of BLTE stock opened at $68.38 on Wednesday. The company’s fifty day simple moving average is $58.77 and its 200-day simple moving average is $60.61. Belite Bio has a 52 week low of $31.01 and a 52 week high of $86.53. The company has a market cap of $2.18 billion, a PE ratio of -61.60 and a beta of -1.54.

Analyst Ratings Changes

A number of research analysts have issued reports on BLTE shares. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Belite Bio in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating on shares of Belite Bio in a research report on Tuesday. Finally, Benchmark raised their target price on shares of Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st.

Belite Bio Company Profile

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.