Novelion Therapeutics (NVLN) Raised to Buy at ValuEngine

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ValuEngine upgraded shares of Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) from a hold rating to a buy rating in a research note published on Thursday.

A number of other analysts have also recently commented on NVLN. Royal Bank of Canada reduced their price objective on Novelion Therapeutics from $6.00 to $5.00 and set a hold rating for the company in a research report on Thursday, August 9th. Zacks Investment Research cut Novelion Therapeutics from a hold rating to a sell rating in a research report on Tuesday, August 14th.

Novelion Therapeutics stock traded down $0.03 during mid-day trading on Thursday, reaching $0.85. 400 shares of the stock traded hands, compared to its average volume of 1,160,771. The stock has a market cap of $16.59 million, a PE ratio of -0.13 and a beta of 1.95. Novelion Therapeutics has a 12-month low of $0.77 and a 12-month high of $5.87.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last posted its quarterly earnings data on Tuesday, August 7th. The biotechnology company reported ($0.64) EPS for the quarter. The firm 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 anticipate that Novelion Therapeutics will post -6.18 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. LMR Partners LLP purchased a new stake in Novelion Therapeutics in the second quarter worth about $190,000. Context Partners Fund L.P. purchased a new stake in Novelion Therapeutics in the third quarter worth about $189,000. Millennium Management LLC increased its position in Novelion Therapeutics by 838.0% in the second quarter. Millennium Management LLC now owns 330,677 shares of the biotechnology company’s stock worth $1,217,000 after buying an additional 295,423 shares in the last quarter. Finally, Healthcare Value Capital LLC increased its position in Novelion Therapeutics by 31.3% in the second quarter. Healthcare Value Capital LLC now owns 1,313,387 shares of the biotechnology company’s stock worth $4,833,000 after buying an additional 313,387 shares in the last quarter. Institutional investors and hedge funds own 77.10% of the company’s stock.

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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