Brokerages Set Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Price Target at $179.75

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com 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 twelve-month price target among analysts that have issued ratings on the stock in the last year is $183.3750.

Several research firms have recently commented on BLTE. BTIG Research set a $187.00 price target on shares of Belite Bio in a research report on Wednesday, December 3rd. Cantor Fitzgerald assumed coverage on shares of Belite Bio in a research report on Monday, November 24th. They issued an “overweight” rating and a $154.00 price target on the stock. Wall Street Zen cut shares of Belite Bio from a “hold” rating to a “sell” rating in a research note on Sunday, January 4th. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 target price on shares of Belite Bio in a report on Wednesday, January 28th. Finally, Benchmark reissued a “buy” rating on shares of Belite Bio in a report on Wednesday, December 3rd.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Darwin Global Management Ltd. purchased a new position in shares of Belite Bio in the fourth quarter valued at about $486,915,000. RA Capital Management L.P. purchased a new position in Belite Bio in the 3rd quarter worth approximately $64,750,000. RTW Investments LP lifted its holdings in Belite Bio by 128.9% in the 4th quarter. RTW Investments LP now owns 715,332 shares of the company’s stock worth $114,425,000 after purchasing an additional 402,832 shares in the last quarter. Millennium Management LLC boosted its stake in Belite Bio by 2,594.6% in the 4th quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock worth $89,399,000 after purchasing an additional 538,141 shares during the period. Finally, Perceptive Advisors LLC grew its holdings in Belite Bio by 732.0% during the 4th 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 in the last quarter. Institutional investors own 0.53% of the company’s stock.

Belite Bio Price Performance

NASDAQ BLTE opened at $180.95 on Friday. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of -94.24 and a beta of -1.46. Belite Bio has a 1-year low of $49.00 and a 1-year high of $200.00. The business’s fifty day moving average price is $164.50 and its 200-day moving average price is $117.33.

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

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.