Novelion Therapeutics (NVLN) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) from a strong sell rating to a hold rating in a report published on Thursday morning.
According to Zacks, “Novelion Therapeutics is a biopharmaceutical company. It engages in developing and marketing of ocular products for individuals living with rare diseases. The product portfolio includes MYALEPT(R) and JUXTAPID (R) and is also developing zuretinol and metrleptin. Novelion Therapeutics formerly known as QLT Inc. is headquatered in Vancouver, Canada. “
Separately, Royal Bank of Canada reaffirmed a hold rating and issued a $9.00 price target on shares of Novelion Therapeutics in a report on Tuesday, October 3rd.
Novelion Therapeutics (NVLN) remained flat at $$4.07 during trading on Thursday. 29,100 shares of the company were exchanged, compared to its average volume of 57,033. The company has a current ratio of 1.45, a quick ratio of 1.28 and a debt-to-equity ratio of 6.53. The stock has a market cap of $75.92, a price-to-earnings ratio of -0.58 and a beta of 0.57. Novelion Therapeutics has a 1 year low of $3.08 and a 1 year high of $12.12.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last posted its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.60). Novelion Therapeutics had a negative net margin of 108.10% and a negative return on equity of 57.36%. equities analysts expect that Novelion Therapeutics will post -8.95 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the business. State of Wisconsin Investment Board acquired a new position in Novelion Therapeutics in the 2nd quarter valued at approximately $102,000. Franklin Resources Inc. raised its holdings in Novelion Therapeutics by 4.2% in the 2nd quarter. Franklin Resources Inc. now owns 12,798 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 511 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Novelion Therapeutics by 8,096.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,179 shares of the biotechnology company’s stock valued at $130,000 after acquiring an additional 14,006 shares in the last quarter. Rhumbline Advisers acquired a new position in Novelion Therapeutics in the 2nd quarter valued at approximately $146,000. Finally, New York State Common Retirement Fund acquired a new position in Novelion Therapeutics in the 2nd quarter valued at approximately $149,000. 75.55% of the stock is owned by hedge funds and other institutional investors.
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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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