Royal Bank Of Canada Reaffirms “Hold” Rating for Novelion Therapeutics Inc. (NVLN)
Royal Bank Of Canada reaffirmed their hold rating on shares of Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) in a report released on Tuesday. The brokerage currently has a $9.00 price target on the biotechnology company’s stock.
Other equities analysts have also issued reports about the stock. Bloom Burton restated an accumulate rating on shares of Novelion Therapeutics in a research report on Monday, June 19th. ValuEngine lowered shares of Novelion Therapeutics from a sell rating to a strong sell rating in a research report on Tuesday, September 12th. Finally, Zacks Investment Research upgraded shares of Novelion Therapeutics from a sell rating to a hold rating in a research report on Wednesday, July 12th.
Novelion Therapeutics (NVLN) traded down 0.42% during mid-day trading on Tuesday, reaching $7.03. 53,409 shares of the company were exchanged. Novelion Therapeutics has a 1-year low of $6.62 and a 1-year high of $13.80. The company’s market capitalization is $131.10 million. The company has a 50 day moving average of $7.09 and a 200-day moving average of $8.91.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The company had revenue of $40.90 million for the quarter, compared to analysts’ expectations of $36.86 million. On average, equities research analysts forecast that Novelion Therapeutics will post ($1.66) EPS for the current year.
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Large investors have recently bought and sold shares of the business. Oxford Asset Management acquired a new position in Novelion Therapeutics in the 1st quarter valued at about $1,238,000. Yakira Capital Management Inc. acquired a new position in Novelion Therapeutics in the 1st quarter valued at about $391,000. Highbridge Capital Management LLC boosted its holdings in Novelion Therapeutics by 190.8% in the 1st quarter. Highbridge Capital Management LLC now owns 625,268 shares of the biotechnology company’s stock valued at $6,716,000 after purchasing an additional 410,268 shares during the last quarter. JW Asset Management LLC boosted its holdings in Novelion Therapeutics by 1.8% in the 2nd quarter. JW Asset Management LLC now owns 315,980 shares of the biotechnology company’s stock valued at $2,916,000 after purchasing an additional 5,681 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Novelion Therapeutics by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 112,902 shares of the biotechnology company’s stock valued at $1,213,000 after purchasing an additional 1,889 shares during the last quarter. Institutional investors own 78.44% of the company’s stock.
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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