Novelion Therapeutics (NVLN) Shares Gap Up to $1.30

Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) gapped up before the market opened on Thursday . The stock had previously closed at $1.20, but opened at $1.30. Novelion Therapeutics shares last traded at $1.21, with a volume of 30202 shares traded.

NVLN has been the subject of a number of research reports. ValuEngine raised Novelion Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research raised Novelion Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Finally, Bloom Burton downgraded Novelion Therapeutics from an “accumulate” rating to a “hold” rating in a report on Wednesday, November 14th.

The firm has a market capitalization of $24.23 million, a price-to-earnings ratio of -0.17 and a beta of 1.87.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last posted its earnings results on Friday, November 9th. The biotechnology company reported ($1.32) earnings per share for the quarter. Novelion Therapeutics had a negative return on equity of 240.54% and a negative net margin of 88.21%. The firm had revenue of $30.33 million for the quarter, compared to analyst estimates of $34.20 million. As a group, analysts anticipate that Novelion Therapeutics Inc will post -5.63 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of NVLN. LMR Partners LLP acquired a new stake in shares of Novelion Therapeutics during the second quarter worth $190,000. Healthcare Value Capital LLC raised its stake 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 valued at $4,833,000 after purchasing an additional 313,387 shares in the last quarter. Millennium Management LLC raised its stake in Novelion Therapeutics by 838.0% in the second quarter. Millennium Management LLC now owns 330,677 shares of the biotechnology company’s stock valued at $1,217,000 after purchasing an additional 295,423 shares in the last quarter. Context Partners Fund L.P. acquired a new position in Novelion Therapeutics in the third quarter valued at about $189,000. Finally, Prosight Management LP raised its stake in Novelion Therapeutics by 128.1% in the third quarter. Prosight Management LP now owns 444,068 shares of the biotechnology company’s stock valued at $1,314,000 after purchasing an additional 249,405 shares in the last quarter. 70.55% of the stock is owned by institutional investors.

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Novelion Therapeutics Company Profile (NASDAQ:NVLN)

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.

See Also: Leveraged Buyout (LBO)

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