Belite Bio (NASDAQ:BLTE) Given “Buy” Rating at HC Wainwright

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

Several other research analysts also recently issued reports on BLTE. Mizuho set a $194.00 price objective on shares of Belite Bio and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Belite Bio in a report on Wednesday, October 8th. Maxim Group set a $200.00 target price on Belite Bio in a research note on Tuesday, December 2nd. Finally, Bank of America began coverage on Belite Bio in a research report on Monday. They issued a “buy” rating and a $195.00 target price for the company. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Belite Bio presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.75.

Belite Bio Stock Up 3.0%

Shares of BLTE stock opened at $167.34 on Wednesday. Belite Bio has a 12 month low of $49.00 and a 12 month high of $174.78. The company has a market cap of $6.28 billion, a PE ratio of -87.16 and a beta of -1.46. The business’s 50 day moving average is $150.92 and its two-hundred day moving average is $103.31.

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

Institutional Investors Weigh In On Belite Bio

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Belite Bio by 11.1% during the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock worth $130,000 after buying an additional 176 shares in the last quarter. Bank of America Corp DE grew its position in Belite Bio by 28.1% during the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock worth $87,000 after acquiring an additional 257 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Belite Bio during the 4th quarter valued at $103,000. Yeomans Consulting Group Inc. bought a new position in Belite Bio in the 4th quarter valued at $384,000. Finally, EverSource Wealth Advisors LLC bought a new position in Belite Bio in the 2nd quarter valued at $147,000. Institutional investors and hedge funds 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.