Zacks Investment Research upgraded shares of Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
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 research analysts have also commented on NVLN. ValuEngine upgraded Novelion Therapeutics from a strong sell rating to a sell rating in a research note on Saturday, February 3rd. Royal Bank of Canada restated a hold rating and issued a $7.00 target price (down from $8.00) on shares of Novelion Therapeutics in a research note on Friday, March 16th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its stake in shares of 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 valued at $130,000 after purchasing an additional 14,006 shares in the last quarter. California State Teachers Retirement System acquired a new position in shares of Novelion Therapeutics in the second quarter valued at $247,000. Vanguard Group Inc. acquired a new position in shares of Novelion Therapeutics in the second quarter valued at $281,000. Deutsche Bank AG raised its stake in shares of Novelion Therapeutics by 82.8% in the fourth quarter. Deutsche Bank AG now owns 36,475 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 16,521 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in shares of Novelion Therapeutics by 231.6% in the fourth quarter. Virtu Financial LLC now owns 44,234 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 30,893 shares in the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.
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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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