FY2024 EPS Estimates for Belite Bio Reduced by HC Wainwright

Belite Bio, Inc (NASDAQ:BLTE) – Equities researchers at HC Wainwright cut their FY2024 earnings estimates for shares of Belite Bio in a research report issued on Wednesday, November 13th. HC Wainwright analyst Y. Chen now expects that the company will earn ($1.18) per share for the year, down from their prior estimate of ($1.12). HC Wainwright has a “Buy” rating and a $100.00 price target on the stock. The consensus estimate for Belite Bio’s current full-year earnings is ($1.21) per share. HC Wainwright also issued estimates for Belite Bio’s Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.32) EPS and FY2025 earnings at ($1.29) EPS.

A number of other equities analysts have also recently weighed in on the stock. Maxim Group upped their price objective on shares of Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Benchmark reissued a “buy” rating and issued a $57.00 price objective on shares of Belite Bio in a research report on Tuesday, August 13th.

Belite Bio Price Performance

NASDAQ:BLTE opened at $82.34 on Monday. The firm has a 50-day moving average of $60.57 and a two-hundred day moving average of $52.25. The stock has a market cap of $2.52 billion, a P/E ratio of -74.18 and a beta of -1.60. Belite Bio has a 1-year low of $31.00 and a 1-year high of $86.53.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. During the same quarter in the previous year, the firm earned ($0.40) earnings per share.

Hedge Funds Weigh In On Belite Bio

Several large investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in shares of Belite Bio during the third quarter worth about $253,000. State Street Corp lifted its position in shares of Belite Bio by 28.2% during the third quarter. State Street Corp now owns 20,086 shares of the company’s stock worth $942,000 after purchasing an additional 4,415 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Belite Bio by 103.5% during the third quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 443 shares during the last quarter. Finally, Armistice Capital LLC bought a new position in shares of Belite Bio during the second quarter worth about $6,761,000. Institutional investors own 0.53% of the company’s stock.

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.