Novelion Therapeutics Inc. (NVLN) Stock Rating Reaffirmed by Royal Bank Of Canada
Royal Bank Of Canada reiterated their hold rating on shares of Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) in a research note released on Tuesday morning. The firm currently has a $9.00 price target on the biotechnology company’s stock.
A number of other research analysts also recently commented on NVLN. Bloom Burton reissued an accumulate rating on shares of Novelion Therapeutics in a research report on Monday, June 19th. Zacks Investment Research raised shares of Novelion Therapeutics from a sell rating to a hold rating in a report on Wednesday, July 12th. Finally, ValuEngine downgraded shares of Novelion Therapeutics from a hold rating to a sell rating in a report on Thursday, August 10th.
Shares of Novelion Therapeutics (NASDAQ:NVLN) opened at 7.03 on Tuesday. The firm’s 50-day moving average is $7.08 and its 200-day moving average is $8.88. Novelion Therapeutics has a 12-month low of $6.62 and a 12-month high of $13.80. The company’s market capitalization is $131.10 million.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). The firm had revenue of $40.90 million for the quarter, compared to the consensus estimate of $36.86 million. On average, equities research analysts anticipate that Novelion Therapeutics will post ($1.66) EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. State of Wisconsin Investment Board bought a new stake in shares of Novelion Therapeutics during the 2nd quarter worth about $102,000. Stifel Financial Corp bought a new stake in shares of Novelion Therapeutics during the 1st quarter worth about $107,000. JPMorgan Chase & Co. boosted its holdings in shares of Novelion Therapeutics by 167.2% during the 1st 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. Franklin Resources Inc. boosted its holdings in shares of Novelion Therapeutics by 4.2% during the 2nd 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, The Manufacturers Life Insurance Company boosted its holdings in shares of Novelion Therapeutics by 8,096.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,179 shares of the biotechnology company’s stock worth $130,000 after buying an additional 14,006 shares during the period. 78.44% of the stock is owned by institutional investors and hedge funds.
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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