Belite Bio (NASDAQ:BLTE) Announces Earnings Results

Belite Bio (NASDAQ:BLTE) released its quarterly earnings data on Tuesday. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.02, Zacks reports. During the same period in the previous year, the business posted ($0.40) earnings per share.

Belite Bio Stock Up 1.7 %

NASDAQ:BLTE traded up $1.43 on Thursday, reaching $83.66. The company’s stock had a trading volume of 122,168 shares, compared to its average volume of 54,629. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -75.37 and a beta of -1.60. The stock has a 50 day moving average price of $58.53 and a 200 day moving average price of $51.23. Belite Bio has a 12-month low of $31.00 and a 12-month high of $86.53.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BLTE shares. HC Wainwright lifted their price target on shares of Belite Bio from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Benchmark restated a “buy” rating and set a $57.00 price target on shares of Belite Bio in a research report on Tuesday, August 13th.

Belite Bio Company Profile

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.