Novelion Therapeutics (NVLN) Lifted to “Sell” at ValuEngine

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Several other brokerages also recently issued reports on NVLN. Zacks Investment Research downgraded shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, November 17th. Royal Bank of Canada reduced their price target on shares of Novelion Therapeutics from $9.00 to $8.00 and set a “sector perform” rating for the company in a report on Friday, November 10th.

Novelion Therapeutics (NASDAQ NVLN) opened at $4.85 on Friday. Novelion Therapeutics has a 1-year low of $3.08 and a 1-year high of $12.12. The stock has a market cap of $97.18 and a price-to-earnings ratio of -0.69. The company has a current ratio of 1.45, a quick ratio of 1.28 and a debt-to-equity ratio of 6.53.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last announced its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.60). Novelion Therapeutics had a negative net margin of 108.10% and a negative return on equity of 57.36%. The firm had revenue of $28.67 million for the quarter. sell-side analysts expect that Novelion Therapeutics will post -8.95 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Healthcare Value Capital LLC boosted its holdings in shares of Novelion Therapeutics by 13.5% during the fourth quarter. Healthcare Value Capital LLC now owns 1,000,000 shares of the biotechnology company’s stock valued at $3,120,000 after acquiring an additional 118,560 shares during the period. FMR LLC lifted its holdings in Novelion Therapeutics by 16.8% in the second quarter. FMR LLC now owns 678,977 shares of the biotechnology company’s stock worth $6,267,000 after purchasing an additional 97,500 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Novelion Therapeutics by 424.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 135,783 shares of the biotechnology company’s stock worth $955,000 after purchasing an additional 109,883 shares during the period. Northern Trust Corp acquired a new stake in Novelion Therapeutics in the second quarter worth about $1,251,000. Finally, State Street Corp acquired a new stake in Novelion Therapeutics in the second quarter worth about $821,000. 76.29% of the stock is owned by institutional investors.

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Novelion Therapeutics Company Profile

Novelion Therapeutics Inc, formerly QLT Inc, is a Canada-based biopharmaceutical company. The Company is engaged in development of new standards of care for individuals living with rare diseases. The Company is focused on advancing its portfolio of rare disease therapies by investing in science and clinical development.

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