Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) had its price objective reduced by Royal Bank Of Canada from $9.00 to $8.00 in a research note published on Friday morning. They currently have a sector perform rating on the biotechnology company’s stock.

Separately, ValuEngine downgraded shares of Novelion Therapeutics from a hold rating to a sell rating in a research note on Thursday, August 10th.

Novelion Therapeutics (NVLN) traded up $0.05 during trading hours on Friday, hitting $4.45. 74,900 shares of the stock traded hands, compared to its average volume of 97,859. Novelion Therapeutics has a 1-year low of $4.19 and a 1-year high of $13.80. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.45 and a quick ratio of 1.28.

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Several institutional investors have recently modified their holdings of NVLN. State of Wisconsin Investment Board purchased a new position in shares of Novelion Therapeutics during the second quarter worth $102,000. JPMorgan Chase & Co. raised its holdings in shares of Novelion Therapeutics by 167.2% during the first quarter. JPMorgan Chase & Co. now owns 10,292 shares of the biotechnology company’s stock worth $110,000 after purchasing an additional 6,440 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Novelion Therapeutics by 4.2% during the second quarter. Franklin Resources Inc. now owns 12,798 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 511 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of 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 purchasing an additional 14,006 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of Novelion Therapeutics during the second quarter worth $146,000. 78.35% of the stock is owned by hedge funds and other institutional investors.

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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