Brokers Set Expectations for Belite Bio FY2024 Earnings

Belite Bio, Inc (NASDAQ:BLTE) – Equities research analysts at HC Wainwright reduced their FY2024 earnings per share estimates for Belite Bio in a report issued on Wednesday, November 13th. HC Wainwright analyst Y. Chen now forecasts 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.

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

Several other equities analysts have also issued reports on the stock. Maxim Group boosted their price target on shares of Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Benchmark reaffirmed 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 Stock Performance

Shares of NASDAQ:BLTE opened at $82.76 on Monday. The company has a 50 day moving average price of $59.90 and a two-hundred day moving average price of $51.97. The company has a market capitalization of $2.53 billion, a PE ratio of -74.56 and a beta of -1.60. Belite Bio has a 52 week low of $31.00 and a 52 week high of $86.53.

Institutional Trading of Belite Bio

A number of institutional investors have recently made changes to their positions in BLTE. GAMMA Investing LLC lifted its position in Belite Bio by 103.5% during the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $41,000 after buying an additional 443 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Belite Bio in the third quarter valued at about $253,000. State Street Corp raised its holdings in 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 acquiring an additional 4,415 shares in the last quarter. Finally, Armistice Capital LLC bought a new position in Belite Bio in the second quarter valued at approximately $6,761,000. Institutional investors own 0.53% of the company’s stock.

About Belite Bio

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.