Franklin Resources Inc. boosted its position in Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,798 shares of the biotechnology company’s stock after purchasing an additional 511 shares during the quarter. Franklin Resources Inc. owned about 0.07% of Novelion Therapeutics worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. JW Asset Management LLC raised its stake 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. Bank of New York Mellon Corp acquired a new position in Novelion Therapeutics in the 2nd quarter valued at about $380,000. State of Wisconsin Investment Board acquired a new position in Novelion Therapeutics in the 2nd quarter valued at about $102,000. Rhumbline Advisers acquired a new position in Novelion Therapeutics in the 2nd quarter valued at about $146,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in Novelion Therapeutics in the 2nd quarter valued at about $240,000. 78.44% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. Bloom Burton reissued an “accumulate” rating on shares of Novelion Therapeutics in a research note on Monday, June 19th. ValuEngine downgraded shares of Novelion Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 12th. Royal Bank Of Canada set a $9.00 target price on shares of Novelion Therapeutics and gave the company a “hold” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research raised shares of Novelion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th.

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Novelion Therapeutics Inc. (NASDAQ NVLN) opened at 7.06 on Friday. Novelion Therapeutics Inc. has a 52 week low of $6.62 and a 52 week high of $13.80. The company has a 50-day moving average of $7.09 and a 200 day moving average of $8.91. The firm’s market cap is $131.66 million.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.04). The company had revenue of $40.90 million during the quarter, compared to analyst estimates of $36.86 million. On average, equities analysts predict that Novelion Therapeutics Inc. will post ($1.66) earnings per share for the current year.

Novelion Therapeutics 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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Institutional Ownership by Quarter for Novelion Therapeutics (NASDAQ:NVLN)

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