Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $175.3333.

Several research analysts have commented on the stock. Cantor Fitzgerald began coverage on shares of Belite Bio in a research report on Monday, November 24th. They set an “overweight” rating and a $154.00 price objective for the company. BTIG Research set a $187.00 price target on Belite Bio in a research note on Wednesday, December 3rd. Zacks Research upgraded Belite Bio from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a research note on Wednesday, December 3rd. Finally, Mizuho set a $194.00 target price on Belite Bio and gave the stock an “outperform” rating in a research note on Tuesday, December 2nd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BLTE. Bank of America Corp DE grew its stake in Belite Bio by 28.1% in the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after acquiring an additional 257 shares during the period. GAMMA Investing LLC lifted its holdings in shares of 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. EverSource Wealth Advisors LLC bought a new position in shares of Belite Bio in the 2nd quarter worth $147,000. Ameriprise Financial Inc. acquired a new stake in Belite Bio in the 3rd quarter valued at $224,000. Finally, BNP Paribas Financial Markets bought a new stake in Belite Bio during the 2nd quarter valued at $190,000. 0.53% of the stock is currently owned by institutional investors.

Belite Bio Stock Down 0.0%

BLTE opened at $154.93 on Friday. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of -80.69 and a beta of -1.45. Belite Bio has a twelve month low of $49.00 and a twelve month high of $162.00. The company has a 50-day simple moving average of $126.91 and a 200 day simple moving average of $87.53.

Belite Bio (NASDAQ:BLTE) last issued its earnings results on Monday, December 1st. The company reported $0.95 EPS for the quarter. Sell-side analysts anticipate that Belite Bio will post -1.17 EPS for the current fiscal 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.