Novelion Therapeutics Inc. (NVLN) Cut to “Sell” at ValuEngine
ValuEngine lowered shares of Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) from a hold rating to a sell rating in a research report released on Thursday morning.
A number of other analysts have also issued reports on NVLN. Royal Bank Of Canada set a $9.00 price target on Novelion Therapeutics and gave the stock a hold rating in a research note on Tuesday, August 8th. Zacks Investment Research raised Novelion Therapeutics from a sell rating to a hold rating in a research note on Wednesday, July 12th. Finally, Bloom Burton reaffirmed an accumulate rating on shares of Novelion Therapeutics in a research note on Monday, June 19th.
Shares of Novelion Therapeutics (NASDAQ NVLN) opened at 7.66 on Thursday. The stock’s market capitalization is $142.48 million. The stock’s 50 day moving average price is $9.17 and its 200 day moving average price is $9.84. Novelion Therapeutics has a one year low of $6.85 and a one year high of $13.80.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by $0.04. The firm had revenue of $40.90 million during the quarter, compared to analysts’ expectations of $36.86 million. Equities research analysts predict that Novelion Therapeutics will post ($1.66) EPS for the current fiscal year.
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A number of institutional investors have recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new position in Novelion Therapeutics during the first quarter worth $107,000. JPMorgan Chase & Co. raised its position in Novelion Therapeutics by 167.2% in the first quarter. JPMorgan Chase & Co. now owns 10,292 shares of the biotechnology company’s stock worth $110,000 after buying an additional 6,440 shares during the period. State of Wisconsin Investment Board bought a new position in Novelion Therapeutics during the second quarter worth $102,000. Franklin Resources Inc. raised its position in Novelion Therapeutics by 4.2% in the second quarter. Franklin Resources Inc. now owns 12,798 shares of the biotechnology company’s stock worth $118,000 after buying an additional 511 shares during the period. Finally, Rhumbline Advisers bought a new position in Novelion Therapeutics during the second quarter worth $146,000. 71.19% of the stock is currently owned by 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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