Belite Bio price target raised to $217 from $187 at Benchmark

Benchmark raised the firm’s price target on Belite Bio (BLTE) to $217 from $187 and keeps a Buy rating on the shares. The company “achieved a major catalyst” during Q4 with the release of topline results from the Phase 3 DRAGON study of Tinlarebant in Stargardt disease, says the analyst, who is upping the firm’s average selling price assumption to $175,000 per patient, which it calls “still at the lower end of the range” for rare and orphan drugs.