Belite Bio (NASDAQ:BLTE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Belite Bio (NASDAQ:BLTE) from a sell rating to a hold rating in a report published on Saturday morning.

BLTE has been the subject of several other reports. Benchmark reissued a “buy” rating on shares of Belite Bio in a research report on Tuesday, March 3rd. Cantor Fitzgerald boosted their target price on shares of Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Bank of America began coverage on shares of Belite Bio in a research report on Monday, January 26th. They set a “buy” rating and a $195.00 target price for the company. Mizuho set a $223.00 target price on shares of Belite Bio in a research report on Thursday, February 19th. Finally, HC Wainwright boosted their target price on shares of Belite Bio from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.33.

Belite Bio Trading Up 0.8%

BLTE opened at $171.17 on Friday. Belite Bio has a 1-year low of $49.00 and a 1-year high of $200.00. The company has a market cap of $6.73 billion, a P/E ratio of -74.42 and a beta of -1.22. The company has a fifty day moving average price of $171.41 and a two-hundred day moving average price of $139.86.

Belite Bio (NASDAQ:BLTE) last posted its earnings results on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.18. On average, research analysts forecast that Belite Bio will post -1.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Belite Bio

Institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in Belite Bio in the 3rd quarter worth about $370,000. High Net Worth Advisory Group LLC bought a new stake in Belite Bio in the 3rd quarter worth about $259,000. GAMMA Investing LLC grew its position in Belite Bio by 11.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock worth $130,000 after purchasing an additional 176 shares in the last quarter. SmartHarvest Portfolios LLC bought a new stake in Belite Bio in the 4th quarter worth about $669,000. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Belite Bio in the 4th quarter worth about $488,000. 0.53% of the stock is owned by institutional investors.

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.