ValuEngine Upgrades Novelion Therapeutics (NVLN) to “Hold”

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday.

NVLN has been the topic of several other research reports. Zacks Investment Research lowered shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Royal Bank of Canada restated a “hold” rating and issued a $7.00 target price (down previously from $8.00) on shares of Novelion Therapeutics in a research report on Friday, March 16th.

NVLN traded down $0.11 on Wednesday, hitting $4.28. 28,139 shares of the company’s stock were exchanged, compared to its average volume of 47,829. The firm has a market cap of $83.24, a price-to-earnings ratio of -0.66 and a beta of 0.85. Novelion Therapeutics has a twelve month low of $3.08 and a twelve month high of $10.68. The company has a quick ratio of 1.39, a current ratio of 1.63 and a debt-to-equity ratio of 17.32.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last released its quarterly earnings data on Thursday, March 15th. The biotechnology company reported ($1.32) earnings per share for the quarter, topping the consensus estimate of ($1.58) by $0.26. The firm had revenue of $38.91 million for the quarter. Novelion Therapeutics had a negative net margin of 91.53% and a negative return on equity of 86.99%. research analysts anticipate that Novelion Therapeutics will post -6.08 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Healthcare Value Capital LLC grew its position in Novelion Therapeutics by 13.5% in the 4th quarter. Healthcare Value Capital LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $3,120,000 after purchasing an additional 118,560 shares during the last quarter. BlackRock Inc. grew its position in Novelion Therapeutics by 1.7% in the 4th quarter. BlackRock Inc. now owns 690,864 shares of the biotechnology company’s stock worth $2,155,000 after purchasing an additional 11,375 shares during the last quarter. Prosight Management LP bought a new position in Novelion Therapeutics in the 4th quarter worth about $925,000. Schwab Charles Investment Management Inc. grew its position in Novelion Therapeutics by 424.3% in the 3rd 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 last quarter. Finally, Geode Capital Management LLC grew its position in Novelion Therapeutics by 105.3% in the 4th quarter. Geode Capital Management LLC now owns 78,354 shares of the biotechnology company’s stock worth $244,000 after purchasing an additional 40,194 shares during the last quarter. Hedge funds and other institutional investors own 80.76% of the company’s stock.

About Novelion Therapeutics

Novelion Therapeutics Inc, a biopharmaceutical company, develops a portfolio of therapies for individuals living with rare diseases in the United States, Brazil, and internationally. The company's commercial products include lomitapide hard capsule for the treatment of homozygous familial hypercholesterolemia in adults under the JUXTAPID and LOJUXTA brands; and metreleptin, a recombinant analogue of human leptin, which is indicated as an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy under the MYALEPT brand.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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