Belite Bio, Inc (NASDAQ:BLTE – Get Rating) – Research analysts at HC Wainwright issued their Q1 2024 EPS estimates for Belite Bio in a report released on Monday, June 5th. HC Wainwright analyst Y. Chen expects that the company will earn ($0.23) per share for the quarter. The consensus estimate for Belite Bio’s current full-year earnings is ($0.67) per share. HC Wainwright also issued estimates for Belite Bio’s Q2 2024 earnings at ($0.23) EPS, Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.23) EPS and FY2024 earnings at ($0.91) EPS.
Separately, Benchmark reissued a “buy” rating and issued a $57.00 target price on shares of Belite Bio in a research note on Tuesday, April 4th.
Belite Bio Price Performance
Belite Bio (NASDAQ:BLTE – Get Rating) last released its quarterly earnings results on Wednesday, May 10th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.16).
Institutional Investors Weigh In On Belite Bio
Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC purchased a new position in Belite Bio in the 3rd quarter worth about $223,000. Atria Wealth Solutions Inc. increased its stake in Belite Bio by 1,397.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 811,765 shares of the company’s stock worth $24,471,000 after buying an additional 757,560 shares during the period. Alps Advisors Inc. purchased a new position in Belite Bio in the 4th quarter worth about $492,000. State Street Corp increased its stake in Belite Bio by 5.9% in the 1st quarter. State Street Corp now owns 12,464 shares of the company’s stock worth $362,000 after buying an additional 696 shares during the period. Finally, Millennium Management LLC purchased a new position in Belite Bio in the 2nd quarter worth about $280,000. Hedge funds and other institutional investors own 0.46% 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 atrophic age-related macular degeneration and autosomal recessive stargardt diseases. Its lead product candidate is LBS-008, an oral once-a-day treatment that can reduce and maintain the delivery of vitamin A to the eye to reduce the accumulation of toxic vitamin A by-products in ocular tissue that is in phase 3 clinical trial.
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