Leerink Partnrs Decreases Earnings Estimates for Belite Bio

Belite Bio, Inc (NASDAQ:BLTE) – Research analysts at Leerink Partnrs cut their FY2028 earnings estimates for shares of Belite Bio in a note issued to investors on Sunday, April 13th. Leerink Partnrs analyst M. Goodman now forecasts that the company will post earnings of $4.40 per share for the year, down from their prior estimate of $4.60. The consensus estimate for Belite Bio’s current full-year earnings is ($1.17) per share.

Several other research firms have also weighed in on BLTE. Cantor Fitzgerald reissued an “overweight” rating on shares of Belite Bio in a research note on Tuesday, March 18th. Benchmark reissued a “buy” rating and set a $80.00 price target on shares of Belite Bio in a research report on Wednesday, March 26th. Finally, HC Wainwright restated a “buy” rating and issued a $100.00 price objective on shares of Belite Bio in a research report on Tuesday, March 18th.

Belite Bio Trading Down 2.7 %

Belite Bio stock opened at $57.28 on Wednesday. The firm has a market capitalization of $1.82 billion, a P/E ratio of -51.60 and a beta of -1.52. The business has a 50-day moving average of $60.77 and a 200-day moving average of $62.46. Belite Bio has a 1 year low of $31.01 and a 1 year high of $86.53.

Belite Bio (NASDAQ:BLTE) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02).

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Belite Bio by 9,391.6% in the 1st quarter. GAMMA Investing LLC now owns 122,441 shares of the company’s stock valued at $8,108,000 after acquiring an additional 121,151 shares in the last quarter. State Street Corp raised its stake 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 valued at $942,000 after purchasing an additional 4,415 shares during the period. Bank of America Corp DE lifted its holdings in shares of Belite Bio by 36.4% in the fourth quarter. Bank of America Corp DE now owns 18,342 shares of the company’s stock valued at $1,157,000 after purchasing an additional 4,891 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Belite Bio by 130.3% during the fourth quarter. JPMorgan Chase & Co. now owns 14,636 shares of the company’s stock worth $924,000 after buying an additional 8,280 shares during the period. Finally, XTX Topco Ltd grew its holdings in shares of Belite Bio by 30.9% during the fourth quarter. XTX Topco Ltd now owns 7,062 shares of the company’s stock worth $446,000 after buying an additional 1,668 shares in the last quarter. 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.