Brokerages Set Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Target Price at $205.80

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $218.7273.

BLTE has been the subject of a number of recent analyst reports. Truist Financial set a $217.00 price target on Belite Bio in a research note on Friday, May 22nd. Morgan Stanley boosted their price target on shares of Belite Bio from $201.00 to $206.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Cantor Fitzgerald increased their target price on Belite Bio from $266.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Jefferies Financial Group reiterated a “hold” rating on shares of Belite Bio in a report on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a report on Monday, July 6th.

Insider Buying and Selling at Belite Bio

In other news, CFO Hao-Yuan Chuang sold 17,962 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $196.42, for a total value of $3,528,096.04. Following the completion of the transaction, the chief financial officer owned 26,038 shares in the company, valued at $5,114,383.96. This trade represents a 40.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yu-Hsin Lin sold 26,000 shares of Belite Bio stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $196.56, for a total value of $5,110,560.00. Following the completion of the sale, the chief executive officer directly owned 70,134 shares in the company, valued at approximately $13,785,539.04. This represents a 27.05% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 188,562 shares of company stock worth $34,876,574. Insiders own 13.29% of the company’s stock.

Institutional Trading of Belite Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position in shares of Belite Bio by 28,200.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock valued at $45,000 after acquiring an additional 282 shares during the period. Persistent Asset Partners Ltd acquired a new stake in shares of Belite Bio in the fourth quarter valued at approximately $108,000. Bank of America Corp DE boosted 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 acquiring an additional 257 shares during the period. Independent Advisor Alliance bought a new stake in Belite Bio in the 4th quarter valued at $211,000. Finally, Brooklyn Investment Group bought a new position in Belite Bio during the fourth quarter worth $287,000. 0.53% of the stock is owned by institutional investors.

Belite Bio Stock Down 5.0%

BLTE stock opened at $183.16 on Thursday. Belite Bio has a twelve month low of $64.80 and a twelve month high of $200.00. The company has a market cap of $7.38 billion, a P/E ratio of -67.09 and a beta of -1.23. The business has a fifty day moving average of $160.55 and a 200-day moving average of $158.72.

Belite Bio (NASDAQ:BLTE) last issued its earnings results on Tuesday, June 30th. The company reported ($0.54) earnings per share (EPS) for the quarter. As a group, equities research analysts anticipate that Belite Bio will post -3.08 earnings per share for the current fiscal year.

Trending Headlines about Belite Bio

Here are the key news stories impacting Belite Bio this week:

• Positive Sentiment: Belite Bio submitted a New Drug Application in Japan for tinlarebant, its once-daily oral treatment candidate for Stargardt disease type 1. The application was filed under Japan’s Sakigake designation system, which is intended to support expedited development and review of innovative therapies. Stargardt disease affects an estimated 9,500 people in Japan and currently has no approved treatments, strengthening the potential commercial opportunity. Belite Bio Japan NDA announcement
• Positive Sentiment: A bullish Seeking Alpha analysis argues that Belite Bio remains on track for a potential blockbuster launch in 2027, highlighting investor optimism around tinlarebant’s development and future revenue potential. Belite Bio potential 2027 launch analysis
• Positive Sentiment: Technical momentum has improved after BLTE’s 50-day moving average crossed above its 200-day moving average, a bullish “golden cross” that may attract momentum-focused investors. Belite Bio golden cross analysis

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.