Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Receives $177.57 Consensus Price Target from Brokerages

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $177.5714.

Several brokerages have recently weighed in on BLTE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a report on Wednesday, October 8th. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a research report on Wednesday, December 3rd. HC Wainwright increased their target price on Belite Bio from $98.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. Morgan Stanley initiated coverage on Belite Bio in a research report on Tuesday, January 6th. They set an “overweight” rating and a $191.00 target price for the company. Finally, Maxim Group set a $200.00 price target on shares of Belite Bio in a report on Tuesday, December 2nd.

Hedge Funds Weigh In On Belite Bio

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 176 shares during the period. Bank of America Corp DE lifted its holdings in shares of Belite Bio by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock worth $87,000 after buying an additional 257 shares during the period. Yeomans Consulting Group Inc. bought a new position in shares of Belite Bio during the 4th quarter worth $384,000. EverSource Wealth Advisors LLC bought a new position in shares of Belite Bio during the 2nd quarter worth $147,000. Finally, SG Americas Securities LLC purchased a new position in shares of Belite Bio during the fourth quarter valued at $441,000. 0.53% of the stock is owned by hedge funds and other institutional investors.

Belite Bio Stock Up 3.0%

Shares of BLTE opened at $164.57 on Wednesday. The business has a fifty day moving average of $149.13 and a 200 day moving average of $101.32. The company has a market cap of $6.17 billion, a PE ratio of -85.71 and a beta of -1.46. Belite Bio has a 52-week low of $49.00 and a 52-week high of $170.24.

Belite Bio (NASDAQ:BLTE) last announced its earnings results on Monday, December 1st. The company reported $0.95 earnings per share for the quarter. As a group, research analysts anticipate that Belite Bio will post -1.17 earnings per share for the current fiscal year.

Belite Bio Company Profile

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.