Belite Bio, Inc. ADR, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on the stock and has a $100.00 price target.
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Yi Chen has given his Buy rating due to a combination of factors including the completion of enrollment for the Phase 3 PHOENIX trial, which is a significant milestone for Belite Bio. The trial, which involves 500 subjects across multiple countries, aims to evaluate the efficacy and safety of tinlarebant in treating geographic atrophy. The study’s design, including its global and multicenter nature, along with the differentiation of tinlarebant as a once-daily oral tablet targeting earlier stages of dry AMD, supports a positive outlook.
Additionally, the Breakthrough Therapy designation granted by the FDA for tinlarebant in treating Stargardt disease further strengthens the Buy rating. This designation, along with other regulatory recognitions such as Fast Track and Orphan Drug designations, highlights the promising efficacy and safety profile of tinlarebant. The ongoing DRAGON trial, with its expected completion in the fourth quarter of 2025, and the potential for regulatory submissions in Japan, also contribute to the optimistic assessment of Belite Bio’s future prospects.
Chen covers the Healthcare sector, focusing on stocks such as Lipocine, Vivani Medical, and Zynex. According to TipRanks, Chen has an average return of -9.5% and a 35.37% success rate on recommended stocks.