Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.
Several other brokerages also recently weighed in on NVLN. Royal Bank of Canada decreased their target price on Novelion Therapeutics from $9.00 to $8.00 and set a “sector perform” rating for the company in a research note on Friday, November 10th. Zacks Investment Research downgraded Novelion Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd.
Shares of Novelion Therapeutics (NASDAQ NVLN) traded down $0.30 during trading hours on Friday, reaching $4.85. The company had a trading volume of 63,053 shares, compared to its average volume of 68,008. Novelion Therapeutics has a 1 year low of $3.08 and a 1 year high of $12.12. The company has a market cap of $96.06, a P/E ratio of -0.69 and a beta of 1.22. The company has a debt-to-equity ratio of 6.53, a quick ratio of 1.28 and a current ratio of 1.45.
Several hedge funds have recently made changes to their positions in NVLN. Northern Trust Corp bought a new stake in shares of Novelion Therapeutics in the 2nd quarter worth approximately $1,251,000. Healthcare Value Capital LLC lifted its position in shares of Novelion Therapeutics by 13.5% in the 4th quarter. Healthcare Value Capital LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $3,120,000 after acquiring an additional 118,560 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Novelion Therapeutics by 424.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 135,783 shares of the biotechnology company’s stock worth $955,000 after acquiring an additional 109,883 shares during the period. FMR LLC lifted its position 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 acquiring an additional 97,500 shares during the period. Finally, State Street Corp bought a new stake in shares of Novelion Therapeutics in the 2nd quarter worth approximately $821,000. Institutional investors own 76.29% 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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