Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) has been given a $9.00 price target by equities researchers at Royal Bank Of Canada in a note issued to investors on Tuesday, August 8th. The firm presently has a “hold” rating on the biotechnology company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 20.00% from the company’s previous close.
Several other analysts also recently weighed in on NVLN. ValuEngine downgraded shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Novelion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Bloom Burton restated an “accumulate” rating on shares of Novelion Therapeutics in a research report on Monday, June 19th.
Novelion Therapeutics (NASDAQ:NVLN) opened at 7.50 on Tuesday. The company’s 50-day moving average is $8.84 and its 200 day moving average is $9.77. The stock’s market capitalization is $139.50 million. Novelion Therapeutics has a 12-month low of $6.85 and a 12-month high of $13.80.
Hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp bought a new stake in Novelion Therapeutics during the first quarter worth approximately $107,000. JPMorgan Chase & Co. increased its stake in Novelion Therapeutics by 167.2% in the first quarter. JPMorgan Chase & Co. now owns 10,292 shares of the biotechnology company’s stock worth $110,000 after buying an additional 6,440 shares during the period. State of Wisconsin Investment Board bought a new stake in Novelion Therapeutics during the second quarter worth approximately $102,000. Franklin Resources Inc. increased its stake in Novelion Therapeutics by 4.2% in the second quarter. Franklin Resources Inc. now owns 12,798 shares of the biotechnology company’s stock worth $118,000 after buying an additional 511 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Novelion Therapeutics by 8,096.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,179 shares of the biotechnology company’s stock worth $130,000 after buying an additional 14,006 shares during the period. Institutional investors own 71.19% of the company’s stock.
Novelion Therapeutics Company Profile
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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