Belite Bio price target raised to $132 from $80 at Benchmark

Benchmark analyst Bruce Jackson raised the firm’s price target on Belite Bio (BLTE) to $132 from $80 and keeps a Buy rating on the shares. Belite is “approaching a series of major catalysts,” beginning with the release of topline results during Q4 from the Phase 3 DRAGON study of Tinlarebant in Stargardts Disease, the analyst tells investors. The results, which are likely to be positive in the firm’s view, combined with orphan drug designation, could result in attractive pricing, leading the firm to increase its pricing assumptions for the drug.