Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Receives $202.33 Consensus Target Price from Brokerages

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $202.3333.

A number of equities analysts have commented on BLTE shares. Wall Street Zen raised shares of Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Bank of America began coverage on shares of Belite Bio in a report on Monday, January 26th. They set a “buy” rating and a $195.00 target price on the stock. Needham & Company LLC set a $217.00 price target on shares of Belite Bio in a research report on Tuesday, March 3rd. Mizuho set a $223.00 price target on shares of Belite Bio in a report on Thursday, February 19th. Finally, Morgan Stanley boosted their price objective on shares of Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd.

Belite Bio Stock Down 0.0%

NASDAQ:BLTE opened at $161.34 on Thursday. The company has a market cap of $6.35 billion, a PE ratio of -70.15 and a beta of -1.46. The business’s 50 day moving average is $171.30 and its two-hundred day moving average is $131.05. Belite Bio has a 52 week low of $49.00 and a 52 week high of $200.00.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.18. As a group, sell-side analysts expect that Belite Bio will post -1.17 EPS for the current fiscal year.

Institutional Trading of Belite Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. acquired a new position in Belite Bio during the 3rd quarter valued at approximately $370,000. High Net Worth Advisory Group LLC acquired a new stake in Belite Bio in the third quarter worth $259,000. GAMMA Investing LLC lifted its stake in Belite Bio by 11.1% in the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after buying an additional 176 shares during the last quarter. Perceptive Advisors LLC lifted its stake in Belite Bio by 732.0% in the fourth quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock valued at $66,262,000 after buying an additional 364,451 shares during the last quarter. Finally, Artia Global Partners LP acquired a new position in shares of Belite Bio during the fourth quarter valued at $2,878,000. 0.53% of the stock is currently owned by institutional investors and hedge funds.

Belite Bio Company Profile

Belite Bio, Inc (NASDAQ: BLTE) is a clinical-stage biotechnology company focused on discovering and developing small molecule therapeutics for metabolic and inflammatory diseases. Leveraging a proprietary drug-discovery platform, the company aims to address conditions such as nonalcoholic steatohepatitis (NASH) and obesity by targeting pathways involved in fibrosis, inflammation and metabolic regulation.

Belite Bio’s pipeline includes multiple candidates in preclinical and early clinical development stages.