Belite Bio (NASDAQ:BLTE) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Belite Bio (NASDAQ:BLTE) announced its quarterly earnings data on Tuesday. The company reported ($0.28) earnings per share (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 company earned ($0.40) earnings per share.

Belite Bio Stock Performance

BLTE stock traded up $1.61 during mid-day trading on Wednesday, hitting $82.76. The company had a trading volume of 65,278 shares, compared to its average volume of 54,229. Belite Bio has a 12 month low of $31.00 and a 12 month high of $83.60. The stock’s fifty day moving average price is $57.16 and its two-hundred day moving average price is $50.79.

Wall Street Analyst Weigh In

BLTE has been the topic of a number of analyst reports. HC Wainwright increased their price target on shares of Belite Bio from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Benchmark reiterated a “buy” rating and issued 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.