Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Receives $179.75 Consensus Target Price from Analysts

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) has received an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $179.75.

BLTE has been the subject of several research analyst reports. Wall Street Zen cut shares of Belite Bio from a “hold” rating to a “sell” rating in a research report on Sunday, January 4th. Benchmark reissued a “buy” rating on shares of Belite Bio in a research note on Wednesday, December 3rd. Mizuho set a $194.00 price target on Belite Bio and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. BTIG Research set a $187.00 price target on Belite Bio in a report on Wednesday, December 3rd. Finally, Morgan Stanley assumed coverage on Belite Bio in a report on Tuesday, January 6th. They set an “overweight” rating and a $191.00 price objective for the company.

Belite Bio Stock Up 0.3%

Belite Bio stock opened at $175.84 on Friday. The stock has a 50-day simple moving average of $162.58 and a 200 day simple moving average of $115.35. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of -91.58 and a beta of -1.46. Belite Bio has a 12-month low of $49.00 and a 12-month high of $200.00.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings data on Monday, December 1st. The company reported $0.95 earnings per share for the quarter. As a group, sell-side analysts anticipate that Belite Bio will post -1.17 EPS for the current year.

Institutional Trading of Belite Bio

A number of institutional investors have recently bought and sold shares of BLTE. Darwin Global Management Ltd. bought a new stake in shares of Belite Bio during the 4th quarter valued at $486,915,000. RA Capital Management L.P. acquired a new stake in shares of Belite Bio during the third quarter worth $64,750,000. Eventide Asset Management LLC increased its holdings in Belite Bio by 96.1% in the fourth quarter. Eventide Asset Management LLC now owns 383,091 shares of the company’s stock valued at $61,279,000 after purchasing an additional 187,779 shares during the last quarter. Vestal Point Capital LP acquired a new position in Belite Bio in the third quarter valued at about $23,125,000. Finally, Marshall Wace LLP boosted its holdings in Belite Bio by 2.8% during the fourth quarter. Marshall Wace LLP now owns 192,700 shares of the company’s stock worth $30,824,000 after buying an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

About Belite Bio

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.