Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT)‘s stock had its “hold” rating reaffirmed by investment analysts at Royal Bank of Canada in a research report issued on Friday, March 16th, Marketbeat Ratings reports. They presently have a $7.00 price objective on the biotechnology company’s stock, down from their prior price objective of $8.00. Royal Bank of Canada’s price objective indicates a potential upside of 113.41% from the stock’s current price.
NVLN has been the subject of a number of other reports. Zacks Investment Research lowered Novelion Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. ValuEngine lowered Novelion Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st.
Shares of NASDAQ NVLN opened at $3.28 on Friday. The company has a debt-to-equity ratio of 17.32, a current ratio of 1.63 and a quick ratio of 1.39. The firm has a market capitalization of $61.35, a P/E ratio of -0.48 and a beta of 0.86. Novelion Therapeutics has a one year low of $3.08 and a one year high of $10.79.
Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake in Novelion Therapeutics by 8,096.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,179 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 14,006 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Novelion Therapeutics during the second quarter worth $149,000. California State Teachers Retirement System acquired a new position in Novelion Therapeutics during the second quarter worth $247,000. Teachers Advisors LLC acquired a new position in Novelion Therapeutics during the second quarter worth $249,000. Finally, Vanguard Group Inc. acquired a new position in Novelion Therapeutics during the second quarter worth $281,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.
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About Novelion Therapeutics
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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