Belite Bio’s (BLTE) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Belite Bio (NASDAQ:BLTEFree Report) in a report published on Friday, Benzinga reports. HC Wainwright currently has a $59.00 price target on the stock.

Separately, Maxim Group initiated coverage on shares of Belite Bio in a report on Thursday, December 14th. They set a buy rating and a $60.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $44.83.

Check Out Our Latest Research Report on BLTE

Belite Bio Stock Up 0.4 %

Shares of BLTE opened at $43.95 on Friday. The firm has a market cap of $1.28 billion, a PE ratio of -35.44 and a beta of -1.55. The company’s fifty day moving average is $45.34 and its two-hundred day moving average is $40.25. Belite Bio has a fifty-two week low of $11.00 and a fifty-two week high of $48.60.

Hedge Funds Weigh In On Belite Bio

Institutional investors have recently added to or reduced their stakes in the company. UBS Group AG lifted its holdings in Belite Bio by 194.3% in the 3rd quarter. UBS Group AG now owns 883 shares of the company’s stock worth $28,000 after buying an additional 583 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in Belite Bio in the 4th quarter worth $96,000. State Street Corp lifted its holdings in Belite Bio by 7.4% in the 2nd quarter. State Street Corp now owns 13,385 shares of the company’s stock worth $189,000 after buying an additional 921 shares in the last quarter. Jump Financial LLC acquired a new position in Belite Bio in the 4th quarter worth $238,000. Finally, Millennium Management LLC acquired a new position in Belite Bio in the 2nd quarter worth $280,000. Institutional investors and hedge funds own 3.82% of the company’s stock.

About Belite Bio

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Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting atrophic age-related macular degeneration and autosomal recessive stargardt diseases (STGD1). Its lead product candidate is LBS-008 (Tinlarebant), an orally administered, once-a-day tablet for maintaining the health and integrity of retinal tissues in STGD1 and GA patients.

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Analyst Recommendations for Belite Bio (NASDAQ:BLTE)

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