Novelion Therapeutics (NVLN) Trading Down 6.1%

Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT)’s share price traded down 6.1% during mid-day trading on Friday . The stock traded as low as $3.38 and last traded at $3.41. 1,658,600 shares were traded during trading, an increase of 2,587% from the average session volume of 61,719 shares. The stock had previously closed at $3.63.

Several equities analysts recently issued reports on the stock. ValuEngine downgraded shares of Novelion Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada reduced their price objective on shares of Novelion Therapeutics from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, May 14th. Finally, Zacks Investment Research raised shares of Novelion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, April 4th.

The company has a current ratio of 1.65, a quick ratio of 1.42 and a debt-to-equity ratio of -21.68. The company has a market cap of $71.08 million, a PE ratio of -0.50 and a beta of 0.85.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last posted its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($1.76) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($1.42). The company had revenue of $27.48 million for the quarter. Novelion Therapeutics had a negative return on equity of 240.54% and a negative net margin of 94.58%. analysts anticipate that Novelion Therapeutics Inc will post -6.06 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Deutsche Bank AG raised its stake in Novelion Therapeutics by 82.8% during the fourth quarter. Deutsche Bank AG now owns 36,475 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 16,521 shares during the period. Virtu Financial LLC raised its stake in Novelion Therapeutics by 231.6% during the fourth quarter. Virtu Financial LLC now owns 44,234 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 30,893 shares during the period. Millennium Management LLC raised its stake in Novelion Therapeutics by 28.7% during the fourth quarter. Millennium Management LLC now owns 59,582 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 13,275 shares during the period. Geode Capital Management LLC raised its stake in Novelion Therapeutics by 105.3% during the fourth 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 period. Finally, Prosight Management LP purchased a new position in Novelion Therapeutics during the fourth quarter worth approximately $925,000. 80.94% of the stock is currently owned by institutional investors.

Novelion Therapeutics Company Profile

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.

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