Zacks Investment Research upgraded shares of Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) from a strong sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.
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. “
Separately, ValuEngine cut Novelion Therapeutics from a hold rating to a sell rating in a research report on Wednesday, May 1st.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last released its quarterly earnings data on Thursday, March 14th. The biotechnology company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.13). The company had revenue of $40.71 million during the quarter, compared to analysts’ expectations of $40.90 million. Equities analysts forecast that Novelion Therapeutics will post -4.49 EPS for the current year.
Several large investors have recently made changes to their positions in NVLN. Virtu Financial LLC acquired a new position in shares of Novelion Therapeutics during the 4th quarter worth about $25,000. Geode Capital Management LLC lifted its position in shares of Novelion Therapeutics by 45.7% during the 4th quarter. Geode Capital Management LLC now owns 82,901 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 26,003 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Novelion Therapeutics during the 4th quarter worth about $795,000. Finally, EdgePoint Investment Group Inc. lifted its position in shares of Novelion Therapeutics by 2.2% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,421,259 shares of the biotechnology company’s stock worth $2,978,000 after purchasing an additional 52,440 shares during the last quarter. 42.47% of the stock is owned by institutional investors.
About Novelion Therapeutics
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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