Zacks: Brokerages Expect Novelion Therapeutics Inc. (NVLN) Will Post Earnings of -$0.29 Per Share
Equities research analysts expect that Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) will announce earnings of ($0.29) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Novelion Therapeutics’ earnings. Novelion Therapeutics posted earnings per share of ($0.55) during the same quarter last year, which indicates a positive year over year growth rate of 47.3%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Novelion Therapeutics will report full year earnings of ($3.07) per share for the current fiscal year. For the next fiscal year, analysts expect that the business will post earnings of ($1.33) per share. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Novelion Therapeutics.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the 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.
NVLN has been the subject of several recent analyst reports. Bloom Burton restated an “accumulate” rating on shares of Novelion Therapeutics in a research report on Monday, June 19th. Zacks Investment Research upgraded Novelion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine cut Novelion Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 12th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $9.00 target price on shares of Novelion Therapeutics in a research report on Tuesday, October 3rd.
Shares of Novelion Therapeutics (NASDAQ:NVLN) opened at 6.83 on Tuesday. The firm’s market capitalization is $127.37 million. Novelion Therapeutics has a 1-year low of $6.62 and a 1-year high of $13.80. The company has a 50-day moving average price of $7.06 and a 200 day moving average price of $8.83.
A number of institutional investors have recently bought and sold shares of NVLN. State of Wisconsin Investment Board purchased a new position in Novelion Therapeutics during the second quarter worth about $102,000. Stifel Financial Corp purchased a new position in Novelion Therapeutics during the first quarter worth about $107,000. JPMorgan Chase & Co. grew its position in Novelion Therapeutics by 167.2% during 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 in the last quarter. Franklin Resources Inc. grew its position in Novelion Therapeutics by 4.2% during 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 in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Novelion Therapeutics by 8,096.0% during the second 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 in the last quarter. Institutional investors and hedge funds 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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