Belite Bio, Inc. ADR, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Okunewitch from Maxim Group maintained a Buy rating on the stock and has a $110.00 price target.
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Michael Okunewitch has given his Buy rating due to a combination of factors related to Belite Bio, Inc.’s promising developments in treating Stargardt disease. The completion of the Phase 3 DRAGON study, which enrolled 104 patients with 94 completing the study, is a significant milestone. The data, expected in the fourth quarter of 2025, could act as a major catalyst for the company, especially if it supports a New Drug Application (NDA) filing in the first half of 2026.
The potential of tinlarebant to become the first approved drug for Stargardt disease is bolstered by positive recommendations from the Data Safety Monitoring Board and the FDA’s Breakthrough Therapy designation. Additionally, Belite Bio’s strong financial position, with a recent capital raise of $140 million and a substantial cash balance, positions it well for future developments and commercial preparations. These factors collectively contribute to a positive outlook for the company’s stock.
In another report released on September 10, Benchmark Co. also maintained a Buy rating on the stock with a $80.00 price target.
BLTE’s price has also changed slightly for the past six months – from $69.480 to $69.480, which is a 0% increase.