Leerink Partners analyst Marc Goodman has maintained their bullish stance on BLTE stock, giving a Buy rating yesterday.
Marc Goodman has given his Buy rating due to a combination of factors that highlight Belite Bio, Inc.’s promising pipeline and strategic advancements. The company is on track with its pivotal DRAGON I trial for tinlarebant in adolescent patients with Stargardt disease, with plans to complete it by the fourth quarter of 2025. Importantly, the Data Safety Monitoring Board (DSMB) has recommended the continuation of this trial without modifications and suggested that the data be submitted for regulatory review, indicating a positive outlook for potential drug approval.
Additionally, the DRAGON II program is progressing as planned across multiple regions, and the completion of the Phase 1b trial in Japan further underscores the company’s developmental progress. The ongoing Phase 3 PHOENIX study in geographic atrophy has seen an increase in sample size, reflecting the company’s commitment to robust research. Financially, Belite Bio is in a stable position with $32 million in cash and a recent $15 million raise, providing a solid foundation for its continued research and development efforts.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $100.00 price target.