Leerink Partners analyst Marc Goodman has reiterated their bullish stance on BLTE stock, giving a Buy rating on February 28.
Marc Goodman has given his Buy rating due to a combination of factors surrounding the promising developments in Belite Bio, Inc.’s ongoing DRAGON trial for tinlarebant in Stargardt disease. The interim analysis results were favorable, indicating no need for modifications in the study, and the DSMB’s recommendation to submit data for regulatory review suggests a strong efficacy signal, potentially paving the way for accelerated drug approval.
Additionally, the safety profile of tinlarebant remains positive, with transient and resolving ocular adverse events and a low discontinuation rate. The stabilization of visual acuity in most subjects over the two-year study period further supports the drug’s potential. These factors, combined with the promising Phase 2 data, contribute to an optimistic outlook for the DRAGON study, reinforcing the Buy rating.
In another report released on February 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $100.00 price target.
BLTE’s price has also changed moderately for the past six months – from $48.950 to $58.260, which is a 19.02% increase.