HC Wainwright Brokers Cut Earnings Estimates for Belite Bio

Belite Bio, Inc (NASDAQ:BLTE) – Equities researchers at HC Wainwright reduced their FY2024 EPS estimates for Belite Bio in a research report issued on Wednesday, November 13th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of ($1.18) per share for the year, down from their prior forecast 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 earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. During the same period last year, the firm earned ($0.40) earnings per share.

A number of other analysts have also recently weighed in on BLTE. Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Belite Bio in a research note on Tuesday, August 13th. Maxim Group upped their price objective on Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a research note on Friday.

Belite Bio Trading Down 1.0 %

BLTE stock opened at $82.81 on Monday. The business has a 50 day simple moving average of $59.22 and a 200-day simple moving average of $51.68. The company has a market capitalization of $2.53 billion, a P/E ratio of -74.60 and a beta of -1.60. Belite Bio has a twelve month low of $31.00 and a twelve month high of $86.53.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Armistice Capital LLC purchased a new stake in Belite Bio in the 2nd quarter valued at approximately $6,761,000. XTX Topco Ltd acquired a new stake in shares of Belite Bio in the 3rd quarter valued at approximately $253,000. State Street Corp lifted its holdings in shares of Belite Bio by 28.2% in the 3rd 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 period. Finally, GAMMA Investing LLC boosted its stake in shares of Belite Bio by 103.5% in the third quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 443 shares in the last quarter. 0.53% of the stock is currently owned by institutional investors and hedge funds.

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.