Cantor Fitzgerald Reaffirms Overweight Rating for Belite Bio (NASDAQ:BLTE)

Cantor Fitzgerald reissued their overweight rating on shares of Belite Bio (NASDAQ:BLTE) in a report released on Tuesday morning,Benzinga reports. Cantor Fitzgerald also issued estimates for Belite Bio’s FY2025 earnings at ($1.36) EPS.

Other analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Belite Bio in a research report on Tuesday. Benchmark upped their target price on shares of Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st.

Belite Bio Trading Up 0.1 %

Shares of Belite Bio stock opened at $67.73 on Tuesday. The company’s fifty day simple moving average is $59.24 and its two-hundred day simple moving average is $60.71. The company has a market cap of $2.16 billion, a P/E ratio of -61.02 and a beta of -1.54. Belite Bio has a 12-month low of $31.01 and a 12-month high of $86.53.

Belite Bio (NASDAQ:BLTE) last released its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Analysts predict that Belite Bio will post -1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Belite Bio

A number of hedge funds have recently bought and sold shares of BLTE. Advisors Preferred LLC bought a new position in Belite Bio in the 4th quarter worth about $52,000. GAMMA Investing LLC boosted its stake in Belite Bio by 48.1% in 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 in the last quarter. BNP Paribas Financial Markets bought a new position in Belite Bio in the 4th quarter worth about $155,000. XTX Topco Ltd bought a new position in Belite Bio in the 3rd quarter worth about $253,000. Finally, JPMorgan Chase & Co. boosted 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 purchasing an additional 6,268 shares in the last quarter. 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.