Belite Bio (NASDAQ:BLTE) Posts Earnings Results

Belite Bio (NASDAQ:BLTE) announced its earnings results on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02, Zacks reports. During the same quarter in the previous year, the firm earned ($0.40) EPS.

Belite Bio Stock Performance

BLTE opened at $83.66 on Friday. The business has a fifty day moving average of $58.53 and a 200 day moving average of $51.23. Belite Bio has a 52-week low of $31.00 and a 52-week high of $86.53.

Analysts Set New Price Targets

BLTE has been the topic of several analyst reports. Benchmark reissued a “buy” rating and set a $57.00 target price on shares of Belite Bio in a research report on Tuesday, August 13th. HC Wainwright boosted their price objective on shares of Belite Bio from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday.

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.