Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Novelion Therapeutics is a biopharmaceutical company. It engages in developing and marketing of ocular products for individuals living with rare diseases. The product portfolio includes MYALEPT(R) and JUXTAPID (R) and is also developing zuretinol and metrleptin. Novelion Therapeutics formerly known as QLT Inc. is headquatered in Vancouver, Canada. “

Separately, Royal Bank of Canada reissued a “hold” rating and issued a $9.00 price objective on shares of Novelion Therapeutics in a research note on Tuesday, October 3rd.

Shares of Novelion Therapeutics (NVLN) opened at $4.08 on Thursday. Novelion Therapeutics has a 12 month low of $3.08 and a 12 month high of $12.12. The company has a quick ratio of 1.28, a current ratio of 1.45 and a debt-to-equity ratio of 6.53. The company has a market capitalization of $73.30, a price-to-earnings ratio of -0.59 and a beta of 0.30.

Institutional investors and hedge funds have recently bought and sold shares of the company. TIAA CREF Investment Management LLC bought a new stake in shares of Novelion Therapeutics in the 2nd quarter worth $377,000. Northern Trust Corp bought a new stake in shares of Novelion Therapeutics in the 2nd quarter worth $1,251,000. Bank of New York Mellon Corp bought a new stake in shares of Novelion Therapeutics in the 2nd quarter worth $380,000. FMR LLC raised its stake in shares of Novelion Therapeutics by 16.8% in the 2nd quarter. FMR LLC now owns 678,977 shares of the biotechnology company’s stock worth $6,267,000 after buying an additional 97,500 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Novelion Therapeutics in the 2nd quarter worth $240,000. 75.55% of the stock is currently owned by institutional investors.

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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.

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