Leerink Partnrs Increases Earnings Estimates for Belite Bio

Belite Bio, Inc (NASDAQ:BLTE) – Equities research analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of Belite Bio in a research report issued on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings of ($1.15) per share for the year, up from their previous forecast of ($1.27). The consensus estimate for Belite Bio’s current full-year earnings is ($1.21) per share. Leerink Partnrs also issued estimates for Belite Bio’s Q4 2024 earnings at ($0.29) EPS, FY2027 earnings at $1.00 EPS and FY2028 earnings at $4.60 EPS.

Belite Bio (NASDAQ:BLTE) last released its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.02. During the same period in the previous year, the company posted ($0.40) earnings per share.

BLTE has been the subject of a number of other reports. Maxim Group raised their target price on Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 15th. Benchmark increased their target price on Belite Bio from $57.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, HC Wainwright raised their price objective on shares of Belite Bio from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

Belite Bio Stock Performance

Shares of Belite Bio stock opened at $58.04 on Friday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -52.29 and a beta of -1.56. Belite Bio has a fifty-two week low of $31.00 and a fifty-two week high of $86.53. The stock has a 50 day moving average of $61.56 and a 200 day moving average of $58.08.

Institutional Trading of Belite Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Belite Bio by 28.2% in the third quarter. State Street Corp now owns 20,086 shares of the company’s stock valued at $942,000 after buying an additional 4,415 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Belite Bio by 7,122.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock worth $298,000 after acquiring an additional 6,268 shares during the period. XTX Topco Ltd acquired a new position in Belite Bio in the 3rd quarter valued at $253,000. GAMMA Investing LLC lifted its stake in shares of Belite Bio by 48.1% during the 4th quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock worth $81,000 after purchasing an additional 419 shares during the period. Finally, Advisors Preferred LLC acquired a new stake in shares of Belite Bio during the fourth quarter worth $52,000. Hedge funds and other 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.