Brokerages Set $11.88 Target Price for Novelion Therapeutics Inc. (NVLN)
Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) has been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation. Novelion Therapeutics’ rating score has declined by 50% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a one year consensus price objective of $11.88 for the company and are forecasting that the company will post ($0.43) EPS for the current quarter, according to Zacks. Zacks has also given Novelion Therapeutics an industry rank of 166 out of 265 based on the ratings given to related companies.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Novelion Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. ValuEngine cut Novelion Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.
Novelion Therapeutics (NVLN) traded down 2.64% during mid-day trading on Thursday, hitting $9.22. The stock had a trading volume of 44,679 shares. The firm’s market cap is $171.52 million. Novelion Therapeutics has a 52 week low of $1.22 and a 52 week high of $12.12. The company’s 50 day moving average price is $9.15 and its 200 day moving average price is $9.02.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last announced its quarterly earnings data on Wednesday, March 15th. The biotechnology company reported ($1.76) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by $1.26. The company had revenue of $13.57 million during the quarter, compared to the consensus estimate of $40.10 million. During the same quarter last year, the company posted ($0.06) earnings per share. Analysts anticipate that Novelion Therapeutics will post ($1.66) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in NVLN. Goldman Sachs Group Inc. boosted its position in shares of Novelion Therapeutics by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 112,902 shares of the biotechnology company’s stock worth $1,213,000 after buying an additional 1,889 shares during the last quarter. Highbridge Capital Management LLC boosted its position in Novelion Therapeutics by 190.8% in the first quarter. Highbridge Capital Management LLC now owns 625,268 shares of the biotechnology company’s stock valued at $6,716,000 after buying an additional 410,268 shares in the last quarter. Stonepine Capital Management LLC boosted its position in Novelion Therapeutics by 2.4% in the first quarter. Stonepine Capital Management LLC now owns 1,560,487 shares of the biotechnology company’s stock valued at $16,760,000 after buying an additional 36,453 shares in the last quarter. Morgan Stanley boosted its position in Novelion Therapeutics by 3,547.8% in the first quarter. Morgan Stanley now owns 56,286 shares of the biotechnology company’s stock valued at $604,000 after buying an additional 54,743 shares in the last quarter. Finally, Yakira Capital Management Inc. acquired a new position in Novelion Therapeutics during the first quarter valued at $391,000. Institutional investors own 72.63% 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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