Novelion Therapeutics Inc. (NVLN) Price Target Lowered to $8.00 at Royal Bank Of Canada

Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) had its price target reduced by Royal Bank Of Canada from $9.00 to $8.00 in a research report report published on Friday morning. Royal Bank Of Canada currently has a sector perform rating on the biotechnology company’s stock.

Separately, ValuEngine downgraded Novelion Therapeutics from a hold rating to a sell rating in a report on Thursday, August 10th.

Novelion Therapeutics (NASDAQ:NVLN) traded down $0.01 on Friday, hitting $4.40. The stock had a trading volume of 45,300 shares, compared to its average volume of 102,937. Novelion Therapeutics has a 12 month low of $4.19 and a 12 month high of $13.80. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.45 and a quick ratio of 1.28.

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Several institutional investors and hedge funds have recently bought and sold shares of NVLN. State of Wisconsin Investment Board acquired a new stake in shares of Novelion Therapeutics during the second quarter worth $102,000. JPMorgan Chase & Co. lifted its holdings in shares of Novelion Therapeutics by 167.2% during 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 in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Novelion Therapeutics by 4.2% during 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 in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Novelion Therapeutics by 8,096.0% during 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 in the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of Novelion Therapeutics during the second quarter worth $146,000. 78.35% of the stock is owned by institutional investors.

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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