Belite Bio Analysts See Potential For Stock Gains With Progress In Key Trials

After Belite Bio Inc BLTE reported results, its stock has been under pressure.

The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.

HC Wainwright On Belite Bio

Analyst Yi Chen maintained a Buy rating and price target of $100.

Belite Bio reported a net loss of $36.1 million, or $1.18 per share, "slightly higher than our estimated loss of $35.7M," Chen said in a note. Last month, the company announced positive results from "a pre-specified interim analysis of the pivotal Phase 3 DRAGON trial of tinlarebant in adolescent Stargardt disease (STGD1) patients," he added.

The trial can now proceed without any modifications and does not need an increase in the sample size, the analyst stated. If the DRAGON trial, which is likely to be completed by the fourth quarter of 2025, shows data that is similar to or better than the Phase 2 data, "tinlarebant could potentially become the first FDA-approved treatment for STGD1," he further wrote.

Check out other analyst stock ratings.

Cantor Fitzgerald On Belite Bio

Analyst Jennifer Kim reiterated an Overweight rating on the stock.

Belite Bio reported cash and investments of $145.1 million and gross proceeds of $15 million, Kim said. Enrollment in the DRAGON II trial is ongoing in adolescent STGD1, she added.

The Phase III DRAGON trial is expected to be completed by the fourth quarter of 2025 and the data could be released by early 2026, the analyst stated. "Over the next ~12-18 months, we expect share appreciation to be driven by updates across tinlarebant’s P3 programs in both STGD1 (DRAGON, DRAGON II) and geographic atrophy (PHOENIX)," she wrote.

BLTE Price Action: Shares of Belite Biohad declined by 0.46% to $67.50 at the time of publication on Tuesday.

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