Street Calls of the Week
Belite Bio Inc ADR stock reached an all-time high of $86.61, marking a significant milestone for the biotech company with a market capitalization of $2.67 billion. According to InvestingPro analysis, the stock appears overvalued at current levels, with technical indicators suggesting overbought conditions. This achievement reflects a robust growth trajectory, with the stock delivering a 28.78% year-to-date return and an impressive 41.86% gain over the past six months. The rise in stock price underscores investor confidence, supported by strong liquidity metrics including a current ratio of 23.15. As Belite Bio continues to expand its operations and innovate within its sector, the stock’s upward momentum has caught analysts’ attention. InvestingPro subscribers can access 15 additional key insights and a comprehensive Pro Research Report for deeper analysis of BLTE’s potential.
In other recent news, Belite Bio has announced the completion of the last subject visit in its Phase 3 DRAGON clinical trial for Tinlarebant, a treatment for Stargardt disease type 1. The trial, which enrolled 104 adolescent subjects across 11 jurisdictions, is set to report topline data in the fourth quarter of 2025. Additionally, China’s National Medical Products Administration has accepted Belite Bio’s New Drug Application for Tinlarebant with priority review, based on interim analysis results showing statistical significance. In financial developments, Belite Bio completed a $275 million private investment in public equity (PIPE) transaction, raising approximately $125 million in gross proceeds, with potential for an additional $150 million if warrants are fully exercised. This investment was led by RA Capital Management with participation from several other investment firms. Meanwhile, H.C. Wainwright has lowered its price target for Belite Bio to $98 from $100, while maintaining a Buy rating. The adjustment follows the company’s recent announcement of completing the last subject visit in the Phase 3 DRAGON trial. These developments reflect Belite Bio’s ongoing efforts and progress in its clinical and financial endeavors.
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