Analysts Issue Forecasts for Belite Bio FY2025 Earnings

Belite Bio, Inc (NASDAQ:BLTE) – Analysts at Cantor Fitzgerald decreased their FY2025 EPS estimates for Belite Bio in a research note issued to investors on Tuesday, March 18th. Cantor Fitzgerald analyst J. Kim now anticipates that the company will earn ($1.36) per share for the year, down from their previous forecast of ($1.30). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Belite Bio’s current full-year earnings is ($1.17) per share.

Belite Bio (NASDAQ:BLTE) last issued its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02).

A number of other brokerages have also weighed in on BLTE. Benchmark raised their price objective on Belite Bio from $57.00 to $79.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. HC Wainwright restated a “buy” rating and set a $100.00 price objective on shares of Belite Bio in a research note on Tuesday.

Belite Bio Price Performance

Belite Bio stock opened at $67.73 on Thursday. The firm’s fifty day moving average price is $59.24 and its 200 day moving average price is $60.71. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -61.02 and a beta of -1.54. Belite Bio has a 12-month low of $31.01 and a 12-month high of $86.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLTE. State Street Corp increased its holdings in shares of Belite Bio by 28.2% in the 3rd quarter. State Street Corp now owns 20,086 shares of the company’s stock worth $942,000 after acquiring an additional 4,415 shares during the period. XTX Topco Ltd bought a new stake in shares of Belite Bio during the third quarter valued at approximately $253,000. JPMorgan Chase & Co. boosted its position in shares of Belite Bio by 7,122.7% during the third quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock worth $298,000 after buying an additional 6,268 shares during the period. GAMMA Investing LLC grew its holdings in Belite Bio by 48.1% in the 4th quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock worth $81,000 after buying an additional 419 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new stake in Belite Bio in the 4th quarter valued at approximately $52,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

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.