H.C. Wainwright raised the firm’s price target on Belite Bio (BLTE) to $185 from $98 and keeps a Buy rating on the shares after the company reported positive topline results from the Phase 3 DRAGON trial of tinlarebant in adolescent Stargardt disease. In the wake of the DRAGON trial update, the firm has increased its view of the probability of approval for tinlarebant in STGD1 to 85% from 65%, the analyst noted.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BLTE: