Zacks Investment Research downgraded shares of Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) from a hold rating to a sell rating in a report released on Wednesday, January 17th.
According to Zacks, “Novelion Therapeutics is a biopharmaceutical company. It engages in developing and marketing of ocular products for individuals living with rare diseases. The product portfolio includes MYALEPT(R) and JUXTAPID (R) and is also developing zuretinol and metrleptin. Novelion Therapeutics formerly known as QLT Inc. is headquatered in Vancouver, Canada. “
Separately, Royal Bank of Canada reissued a hold rating and issued a $9.00 price objective on shares of Novelion Therapeutics in a research note on Tuesday, October 3rd.
Shares of Novelion Therapeutics (NASDAQ:NVLN) traded up $0.03 on Wednesday, reaching $4.44. 26,622 shares of the company’s stock traded hands, compared to its average volume of 66,201. The company has a quick ratio of 1.28, a current ratio of 1.45 and a debt-to-equity ratio of 6.53. Novelion Therapeutics has a 12 month low of $3.08 and a 12 month high of $12.12. The firm has a market cap of $82.26, a PE ratio of -0.64 and a beta of 1.22.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last posted its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.89) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.60). Novelion Therapeutics had a negative return on equity of 57.36% and a negative net margin of 108.10%. The company had revenue of $28.67 million for the quarter. sell-side analysts anticipate that Novelion Therapeutics will post -7.06 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its holdings in Novelion Therapeutics by 4.2% in the 2nd quarter. Franklin Resources Inc. now owns 12,798 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 511 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Novelion Therapeutics by 8,096.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,179 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 14,006 shares in the last quarter. Rhumbline Advisers purchased a new position in Novelion Therapeutics in the 2nd quarter valued at about $146,000. New York State Common Retirement Fund purchased a new position in Novelion Therapeutics in the 2nd quarter valued at about $149,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in Novelion Therapeutics in the 2nd quarter valued at about $240,000. Institutional investors own 76.40% of the company’s stock.
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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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