Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $177.5714.

A number of research firms have weighed in on BLTE. HC Wainwright upped their price objective on shares of Belite Bio from $98.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Maxim Group set a $200.00 price target on Belite Bio in a research note on Tuesday, December 2nd. Cantor Fitzgerald began coverage on Belite Bio in a report on Monday, November 24th. They issued an “overweight” rating and a $154.00 price target for the company. Morgan Stanley initiated coverage on Belite Bio in a research note on Tuesday, January 6th. They set an “overweight” rating and a $191.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a report on Wednesday, October 8th.

Belite Bio Stock Up 3.2%

BLTE opened at $160.01 on Wednesday. The firm’s 50 day moving average is $146.25 and its 200-day moving average is $99.75. Belite Bio has a 52-week low of $49.00 and a 52-week high of $170.24. The firm has a market capitalization of $6.00 billion, a P/E ratio of -83.34 and a beta of -1.46.

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

Institutional Trading of Belite Bio

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Belite Bio during the 4th quarter valued at $441,000. Yeomans Consulting Group Inc. bought a new stake in shares of Belite Bio in the 4th quarter worth about $384,000. JPMorgan Chase & Co. raised its stake in shares of Belite Bio by 45.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company’s stock valued at $726,000 after purchasing an additional 3,052 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Belite Bio in the 3rd quarter valued at about $23,125,000. Finally, Polymer Capital Management HK LTD bought a new position in shares of Belite Bio during the third quarter worth about $538,000. 0.53% of the stock is owned by institutional investors and hedge funds.

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.