3 days Ago By ABMN Staff
Belite Bio, Inc ( NASDAQ:BLTE – Free Report ) – Investment analysts at Cantor Fitzgerald reduced their FY2024 earnings estimates for Belite Bio in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst J. Kim now forecasts that the company will earn ($1.
18) per share for the year, down from their previous forecast of ($1.17). The consensus estimate for Belite Bio’s current full-year earnings is ($1.
21) per share. A number of other brokerages have also recently commented on BLTE. Maxim Group raised 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. HC Wainwright lifted their price target on shares of Belite Bio from $60.
00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Benchmark restated a “buy” rating and set a $57.
00 price objective on shares of Belite Bio in a report on Tuesday, August 13th. Belite Bio Price Performance Shares of Belite Bio stock opened at $82.76 on Monday.
The business has a 50-day simple moving average of $59.90 and a 200 day simple moving average of $51.97.
Belite Bio has a one year low of $31.00 and a one year high of $86.53.
The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -74.56 and a beta of -1.
60. Belite Bio ( NASDAQ:BLTE – Get Free Report ) last announced its quarterly earnings data 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 quarter last year, the business posted ($0.40) EPS. Institutional Trading of Belite Bio Institutional investors and hedge funds have recently modified their holdings of the stock.
Armistice Capital LLC purchased a new position in shares of Belite Bio during the second quarter valued at approximately $6,761,000. State Street Corp lifted its stake in Belite Bio by 28.2% during the 3rd quarter.
State Street Corp now owns 20,086 shares of the company’s stock valued at $942,000 after acquiring an additional 4,415 shares in the last quarter. XTX Topco Ltd bought a new position in Belite Bio during the 3rd quarter valued at $253,000. Finally, GAMMA Investing LLC boosted its holdings 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 acquiring an additional 443 shares during the last quarter. 0.
53% of the stock is owned by hedge funds and other institutional investors. Belite Bio Company Profile ( Get Free Report ) 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.
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