FY2024 EPS Estimates for Belite Bio Reduced by HC Wainwright

Belite Bio, Inc (NASDAQ:BLTE) – Equities researchers at HC Wainwright cut their FY2024 earnings per share (EPS) estimates for shares of Belite Bio in a report released on Wednesday, November 13th. HC Wainwright analyst Y. Chen now anticipates that the company will post earnings of ($1.18) per share for the year, down from their previous forecast of ($1.12). HC Wainwright currently has a “Buy” rating and a $100.00 price target on the stock. The consensus estimate for Belite Bio’s current full-year earnings is ($1.21) per share. HC Wainwright also issued estimates for Belite Bio’s Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.32) EPS and FY2025 earnings at ($1.29) EPS.

Several other brokerages also recently weighed in on BLTE. Benchmark reiterated a “buy” rating and issued a $57.00 price target on shares of Belite Bio in a report on Tuesday, August 13th. Maxim Group boosted their price target on Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 15th.

Belite Bio Price Performance

Shares of Belite Bio stock opened at $82.34 on Monday. The business has a 50 day moving average price of $60.57 and a 200 day moving average price of $52.25. The company has a market capitalization of $2.52 billion, a P/E ratio of -74.18 and a beta of -1.60. Belite Bio has a 1 year low of $31.00 and a 1 year high of $86.53.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.02. During the same period last year, the company earned ($0.40) EPS.

Institutional Trading of Belite Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Armistice Capital LLC acquired a new stake in shares of Belite Bio during the 2nd quarter worth $6,761,000. GAMMA Investing LLC increased its holdings in shares of Belite Bio by 103.5% during the 3rd quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $41,000 after buying an additional 443 shares during the last quarter. State Street Corp increased its holdings in shares of Belite Bio by 28.2% during the 3rd quarter. State Street Corp now owns 20,086 shares of the company’s stock worth $942,000 after buying an additional 4,415 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Belite Bio during the 3rd quarter worth $253,000. 0.53% of the stock is currently owned by institutional investors and hedge funds.

About Belite Bio

Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. The company’s lead product candidate is LBS-008 (Tinlarebant), an orally administered once-a-day tablet for maintaining the health and integrity of retinal tissues in autosomal recessive Stargardt disease and geographic atrophy patients.