Novelion Therapeutics (NVLN) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) from a hold rating to a sell rating in a report released on Tuesday morning.

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. “

A number of other equities research analysts have also commented on the company. ValuEngine upgraded Novelion Therapeutics from a sell rating to a hold rating in a research report on Wednesday, January 2nd. Bloom Burton lowered Novelion Therapeutics from an accumulate rating to a hold rating in a research report on Wednesday, November 14th.

Shares of NASDAQ NVLN opened at $1.28 on Tuesday. Novelion Therapeutics has a one year low of $0.70 and a one year high of $5.32. The stock has a market cap of $22.97 million, a price-to-earnings ratio of -0.19 and a beta of 2.00.

In other Novelion Therapeutics news, major shareholder Healthcare Master Fun Broadfin sold 278,485 shares of the firm’s stock in a transaction dated Wednesday, December 26th. The stock was sold at an average price of $0.91, for a total transaction of $253,421.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 18.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Novelion Therapeutics during the 4th quarter worth about $25,000. Context Partners Fund L.P. purchased a new stake in shares of Novelion Therapeutics during the 3rd quarter worth about $189,000. Prosight Management LP raised its stake in shares of Novelion Therapeutics by 128.1% during the 3rd quarter. Prosight Management LP now owns 444,068 shares of the biotechnology company’s stock worth $1,314,000 after purchasing an additional 249,405 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Novelion Therapeutics by 838.0% during the 2nd quarter. Millennium Management LLC now owns 330,677 shares of the biotechnology company’s stock worth $1,217,000 after purchasing an additional 295,423 shares in the last quarter. 70.52% 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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