Zacks Investment Research downgraded shares of Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) from a hold rating to a sell rating in a report issued on Friday.

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. “

NVLN has been the subject of a number of other reports. Royal Bank Of Canada reissued a hold rating and issued a $9.00 target price on shares of Novelion Therapeutics in a research report on Tuesday, October 3rd. ValuEngine downgraded Novelion Therapeutics from a hold rating to a sell rating in a research report on Thursday, August 10th.

Shares of Novelion Therapeutics (NASDAQ NVLN) opened at $5.26 on Friday. The company has a debt-to-equity ratio of 6.53, a quick ratio of 1.28 and a current ratio of 1.45. Novelion Therapeutics has a 52-week low of $4.19 and a 52-week high of $13.80.

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A number of large investors have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC increased its position in Novelion Therapeutics by 18.7% in the second quarter. Stonepine Capital Management LLC now owns 1,852,395 shares of the biotechnology company’s stock worth $17,098,000 after buying an additional 291,908 shares during the last quarter. FMR LLC increased its position in Novelion Therapeutics by 16.8% in the second quarter. FMR LLC now owns 678,977 shares of the biotechnology company’s stock worth $6,267,000 after buying an additional 97,500 shares during the last quarter. JW Asset Management LLC increased its position in Novelion Therapeutics by 1.8% in the second quarter. JW Asset Management LLC now owns 315,980 shares of the biotechnology company’s stock worth $2,916,000 after buying an additional 5,681 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Novelion Therapeutics by 424.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 135,783 shares of the biotechnology company’s stock valued at $955,000 after purchasing an additional 109,883 shares in the last quarter. Finally, Northern Trust Corp purchased a new position in shares of Novelion Therapeutics in the second quarter valued at $1,251,000. 78.23% of the stock is owned by institutional investors and hedge funds.

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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