Wall Street analysts forecast that Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) will report earnings of ($0.29) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Novelion Therapeutics’ earnings. Novelion Therapeutics posted earnings per share of ($0.55) in the same quarter last year, which would indicate a positive year over year growth rate of 47.3%. The company is scheduled to report its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Novelion Therapeutics will report full-year earnings of ($3.07) per share for the current financial year. For the next financial year, analysts forecast that the company will report earnings of ($1.33) per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Novelion Therapeutics.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last announced its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $40.90 million for the quarter, compared to the consensus estimate of $36.86 million.
A number of equities analysts recently commented on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $9.00 price target on shares of Novelion Therapeutics in a research note on Tuesday, October 3rd. ValuEngine cut shares of Novelion Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 12th. Zacks Investment Research raised shares of Novelion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Bloom Burton reaffirmed an “accumulate” rating on shares of Novelion Therapeutics in a research note on Monday, June 19th.
Shares of Novelion Therapeutics (NASDAQ NVLN) traded down 1.03% on Tuesday, reaching $6.74. 10,944 shares of the company traded hands. Novelion Therapeutics has a 1-year low of $6.41 and a 1-year high of $13.80. The firm’s market capitalization is $125.69 million. The stock has a 50-day moving average price of $7.01 and a 200 day moving average price of $8.77.
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Several hedge funds have recently added to or reduced their stakes in NVLN. JPMorgan Chase & Co. boosted its stake in shares of Novelion Therapeutics by 167.2% during the 1st quarter. JPMorgan Chase & Co. now owns 10,292 shares of the biotechnology company’s stock worth $110,000 after purchasing an additional 6,440 shares during the period. Stifel Financial Corp bought a new stake in Novelion Therapeutics during the 1st quarter valued at about $107,000. Stonepine Capital Management LLC lifted its holdings in Novelion Therapeutics by 2.4% during the 1st quarter. Stonepine Capital Management LLC now owns 1,560,487 shares of the biotechnology company’s stock valued at $16,760,000 after buying an additional 36,453 shares in the last quarter. Highbridge Capital Management LLC lifted its holdings in Novelion Therapeutics by 190.8% during the 1st quarter. Highbridge Capital Management LLC now owns 625,268 shares of the biotechnology company’s stock valued at $6,716,000 after buying an additional 410,268 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Novelion Therapeutics by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 112,902 shares of the biotechnology company’s stock valued at $1,213,000 after buying an additional 1,889 shares in the last quarter. 78.44% of the stock is owned by hedge funds and other institutional investors.
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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