Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) saw a significant decline in short interest in September. As of September 28th, there was short interest totalling 669,743 shares, a decline of 58.7% from the September 14th total of 1,619,717 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average trading volume of 192,359 shares, the short-interest ratio is currently 3.5 days.
Several equities analysts recently commented on NVLN shares. ValuEngine cut shares of Novelion Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Royal Bank of Canada reduced their price objective on shares of Novelion Therapeutics from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, August 9th. Finally, Zacks Investment Research cut shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th.
Institutional investors have recently made changes to their positions in the business. Healthcare Value Capital LLC lifted its position in Novelion Therapeutics by 31.3% during the second quarter. Healthcare Value Capital LLC now owns 1,313,387 shares of the biotechnology company’s stock valued at $4,833,000 after purchasing an additional 313,387 shares during the last quarter. LMR Partners LLP bought a new stake in Novelion Therapeutics during the second quarter valued at approximately $190,000. Finally, Millennium Management LLC lifted its position in Novelion Therapeutics by 838.0% during the second quarter. Millennium Management LLC now owns 330,677 shares of the biotechnology company’s stock valued at $1,217,000 after purchasing an additional 295,423 shares during the last quarter. Institutional investors and hedge funds own 77.10% of the company’s stock.
Shares of NASDAQ:NVLN opened at $1.05 on Friday. The company has a market cap of $55.80 million, a P/E ratio of -0.15 and a beta of 0.92. Novelion Therapeutics has a 12 month low of $0.92 and a 12 month high of $6.96. The company has a debt-to-equity ratio of -6.52, a current ratio of 1.33 and a quick ratio of 1.13.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last announced its earnings results on Tuesday, August 7th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter. Novelion Therapeutics had a negative net margin of 109.01% and a negative return on equity of 240.54%. The company had revenue of $31.90 million for the quarter. As a group, equities research analysts anticipate that Novelion Therapeutics will post -6.18 earnings per share for the current year.
Novelion Therapeutics Company Profile
Novelion Therapeutics Inc, a biopharmaceutical company, develops a portfolio of therapies for individuals living with rare diseases in the United States, Brazil, and internationally. The company's commercial products include lomitapide hard capsule for the treatment of homozygous familial hypercholesterolemia in adults under the JUXTAPID and LOJUXTA brands; and metreleptin, a recombinant analogue of human leptin, which is indicated as an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy under the MYALEPT brand.
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