QLT Rating Lowered to Sector Perform at RBC Capital (QLTI)
QLT (NASDAQ:QLTI) was downgraded by research analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a report released on Friday, TheFlyOnTheWall.com reports. They currently have a $6.50 price objective on the stock, up from their previous price objective of $6.00. RBC Capital’s target price points to a potential upside of 5.01% from the stock’s previous close.
Shares of QLT (NASDAQ:QLTI) traded up 1.78% on Friday, hitting $6.30. The stock had a trading volume of 539,228 shares. QLT has a one year low of $3.69 and a one year high of $7.10. The stock has a 50-day moving average of $5.25 and a 200-day moving average of $5.82. The company’s market cap is $321.8 million.
QLT (NASDAQ:QLTI) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.13) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.13). During the same quarter last year, the company posted ($0.13) earnings per share. On average, analysts predict that QLT will post $-0.52 earnings per share for the current fiscal year.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of QLT in a research note on Friday, April 25th. They now have a $6.50 price target on the stock.
QLT Inc (NASDAQ:QLTI) is a biotechnology company.
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