Belite's Tinlarebant Results Boost Wall Street Confidence -- Market Talk
Dow Jones
Dec 03
1144 ET - Belite Bio's encouraging results from its Phase 3 trial of Tinlarebant, an eye disease drug, are boosting Wall Street confidence in the San Diego-based pharmaceutical company. Both Cantor and Mizuho raised their price targets, with Mizuho upgrading the stock to outperform.Mizuho's Graig Suvannavejh writes that despite concerns about Belite's prior supportive data for Tinlarebant, the positive results and substantial peak market for the drug -- $4.2 billion, he estimates -- are fortuitous for the company. "In light of the robustness we saw in yesterday's data, we now come around on tinlarebant (and, as a result, BLTE too)," he writes. (elias.schisgall@wsj.com)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.