Novelion Therapeutics Inc. (NVLN) Hits New 12-Month Low at $5.97
Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT)’s share price hit a new 52-week low on Monday . The company traded as low as $5.97 and last traded at $5.97, with a volume of 54,370 shares traded. The stock had previously closed at $6.55.
A number of equities analysts have recently weighed in on NVLN shares. Royal Bank Of Canada reaffirmed a “hold” rating and set a $9.00 target price on shares of Novelion Therapeutics in a research report on Tuesday, October 3rd. ValuEngine lowered Novelion Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised Novelion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th.
The stock’s market cap is $110.58 million. The firm has a 50-day moving average price of $6.91 and a 200 day moving average price of $8.60.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.04). The business had revenue of $40.90 million during the quarter, compared to analyst estimates of $36.86 million. On average, equities research analysts predict that Novelion Therapeutics Inc. will post ($1.66) EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in NVLN. Stonepine Capital Management LLC raised its stake in Novelion Therapeutics by 18.7% during the second quarter. Stonepine Capital Management LLC now owns 1,852,395 shares of the biotechnology company’s stock valued at $17,098,000 after buying an additional 291,908 shares during the last quarter. Northern Trust Corp purchased a new position in Novelion Therapeutics during the second quarter valued at $1,251,000. FMR LLC raised its stake in Novelion Therapeutics by 16.8% during the second quarter. FMR LLC now owns 678,977 shares of the biotechnology company’s stock valued at $6,267,000 after buying an additional 97,500 shares during the last quarter. State Street Corp purchased a new position in Novelion Therapeutics during the second quarter valued at $821,000. Finally, Bank of New York Mellon Corp purchased a new position in Novelion Therapeutics during the second quarter valued at $380,000. Institutional investors and hedge funds own 78.44% of the company’s stock.
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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.
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