Belite Bio (NASDAQ:BLTE) Issues Quarterly Earnings Results

Belite Bio (NASDAQ:BLTE) issued its quarterly earnings results on Monday. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02), Zacks reports.

Belite Bio Stock Performance

NASDAQ BLTE opened at $68.38 on Wednesday. The firm has a market cap of $2.18 billion, a PE ratio of -61.60 and a beta of -1.54. Belite Bio has a one year low of $31.01 and a one year high of $86.53. The firm’s fifty day moving average is $58.77 and its two-hundred day moving average is $60.61.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BLTE shares. HC Wainwright reissued a “buy” rating and issued a $100.00 price target on shares of Belite Bio in a research report on Tuesday. Benchmark lifted their price objective on shares of Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Belite Bio in a research report on Tuesday.

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.