Novelion Therapeutics (NVLN) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

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. “

A number of other brokerages have also commented on NVLN. ValuEngine raised Novelion Therapeutics from a hold rating to a buy rating in a report on Tuesday, June 12th. Royal Bank of Canada lowered their price target on Novelion Therapeutics from $6.00 to $5.00 and set a hold rating on the stock in a report on Thursday, August 9th.

NASDAQ NVLN traded up $0.05 during trading hours on Wednesday, hitting $1.05. The company had a trading volume of 2,289,066 shares, compared to its average volume of 133,578. The firm has a market capitalization of $55.80 million, a PE ratio of -0.15 and a beta of 0.92. 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 has a fifty-two week low of $0.92 and a fifty-two week high of $6.96.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last issued its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.64) EPS for the quarter. The business had revenue of $31.90 million for the quarter. Novelion Therapeutics had a negative net margin of 109.01% and a negative return on equity of 240.54%. Equities research analysts expect that Novelion Therapeutics will post -6.18 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its holdings in shares of 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 period. Healthcare Value Capital LLC boosted its stake 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 buying an additional 313,387 shares in the last quarter. Finally, LMR Partners LLP bought a new position in Novelion Therapeutics during the second quarter valued at about $190,000. 77.10% of the stock is currently owned by institutional investors.

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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