Belite Bio’s (BLTE) Buy Rating Reiterated at HC Wainwright

Belite Bio (NASDAQ:BLTE)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $185.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 10.55% from the company’s previous close.

BLTE has been the subject of several other research reports. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a research report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Belite Bio in a research note on Wednesday, October 8th. Wall Street Zen cut Belite Bio from a “hold” rating to a “sell” rating in a research note on Sunday, January 4th. Maxim Group set a $200.00 target price on Belite Bio in a report on Tuesday, December 2nd. Finally, BTIG Research set a $187.00 price target on shares of Belite Bio in a report on Wednesday, December 3rd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.75.

Belite Bio Trading Up 3.0%

Shares of BLTE opened at $167.34 on Wednesday. The business’s 50-day moving average price is $150.92 and its 200 day moving average price is $103.31. The stock has a market capitalization of $6.28 billion, a P/E ratio of -87.16 and a beta of -1.46. Belite Bio has a 1-year low of $49.00 and a 1-year high of $174.78.

Belite Bio (NASDAQ:BLTE) last announced its earnings results on Monday, December 1st. The company reported $0.95 EPS for the quarter. On average, research analysts predict that Belite Bio will post -1.17 earnings per share for the current year.

Hedge Funds Weigh In On Belite Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Belite Bio in the fourth quarter valued at approximately $103,000. SG Americas Securities LLC bought a new position in shares of Belite Bio during the 4th quarter valued at $441,000. Yeomans Consulting Group Inc. acquired a new stake in shares of Belite Bio in the 4th quarter valued at $384,000. JPMorgan Chase & Co. boosted its holdings in Belite Bio by 45.2% in the third quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company’s stock worth $726,000 after purchasing an additional 3,052 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new position in Belite Bio during the third quarter worth $23,125,000. Institutional investors own 0.53% of the company’s stock.

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.