Belite Bio’s (BLTE) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Belite Bio (NASDAQ:BLTE) in a research note issued to investors on Tuesday,Benzinga reports. Cantor Fitzgerald also issued estimates for Belite Bio’s FY2025 earnings at ($1.36) EPS.

Other equities research analysts have also issued reports about the stock. Benchmark boosted their price objective on shares of Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Belite Bio in a research note on Tuesday.

Belite Bio Stock Performance

Shares of BLTE opened at $67.73 on Tuesday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -61.02 and a beta of -1.54. Belite Bio has a fifty-two week low of $31.01 and a fifty-two week high of $86.53. The firm has a 50 day moving average price of $59.24 and a 200-day moving average price of $60.71.

Belite Bio (NASDAQ:BLTE) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). As a group, equities research analysts predict that Belite Bio will post -1.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BLTE. Advisors Preferred LLC purchased a new position in shares of Belite Bio in the fourth quarter worth $52,000. GAMMA Investing LLC increased its position in Belite Bio by 48.1% during the 4th quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock valued at $81,000 after purchasing an additional 419 shares during the period. BNP Paribas Financial Markets purchased a new position in Belite Bio during the 4th quarter valued at $155,000. XTX Topco Ltd purchased a new position in Belite Bio during the 3rd quarter valued at $253,000. Finally, JPMorgan Chase & Co. increased its position in Belite Bio by 7,122.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock valued at $298,000 after purchasing an additional 6,268 shares during the period. 0.53% of the stock is owned by hedge funds and other institutional investors.

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.