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Investing.com - Benchmark has reiterated its Buy rating and $80.00 price target on Belite Bio, Inc, ADR (NASDAQ:BLTE) following the company’s second-quarter business update. Currently trading at $69.88, the stock has shown strong momentum with a 26.64% return over the past six months, according to InvestingPro data.
The research firm identified Belite Bio as its "best idea for 2025," citing positive developments in the company’s clinical programs. In February, Belite received encouraging results from an interim data analysis of its Phase 3 DRAGON trial, with the Data Safety Monitoring Board recommending the company seek accelerated regulatory approval.
The DRAGON trial is expected to conclude around year-end 2025, with a New Drug Application (NDA) submission to the FDA planned for the first half of 2026. For its Geographic Atrophy (GA) program, Belite has completed enrollment of the PHOENIX trial with 529 patients, exceeding its 500-patient target ahead of schedule.
Benchmark noted that Belite Bio remains insulated from several industry headwinds, including FDA staffing issues, tariff concerns, and most-favored-nation pricing worries. The company manufactures domestically and has not yet launched its products.
The research firm also highlighted Belite’s strong financial position, with approximately four years of cash on its balance sheet, which provides protection against potential capital market disruptions.
In other recent news, Belite Bio Inc. ADR reported its earnings for the second quarter of 2025, which exceeded analysts’ expectations despite an increase in net losses. The company posted an earnings per share (EPS) of -0.31 USD, outperforming the anticipated -0.39 USD. This result marked a positive surprise of 20.51%. These developments highlight the company’s ability to surpass earnings forecasts even in the face of financial challenges. No information about analyst upgrades or downgrades or other company news was provided in the recent updates. Investors might find this earnings performance noteworthy as it reflects the company’s financial resilience. The company’s financial results are an important consideration for stakeholders assessing its current performance.
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