Novelion Therapeutics (NVLN) Announces Quarterly Earnings Results

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Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) released its quarterly earnings data on Thursday. The biotechnology company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.13), Fidelity Earnings reports. The business had revenue of $40.71 million during the quarter, compared to analysts’ expectations of $40.90 million.

Novelion Therapeutics stock opened at $1.40 on Friday. Novelion Therapeutics has a 52-week low of $0.70 and a 52-week high of $4.80. The firm has a market cap of $23.40 million, a price-to-earnings ratio of -0.21 and a beta of 2.16.

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

A hedge fund recently raised its stake in Novelion Therapeutics stock. Geode Capital Management LLC lifted its holdings in shares of Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) by 45.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 82,901 shares of the biotechnology company’s stock after purchasing an additional 26,003 shares during the period. Geode Capital Management LLC owned 0.44% of Novelion Therapeutics worth $71,000 at the end of the most recent reporting period. Institutional investors own 43.20% of the company’s stock.

NVLN has been the subject of several recent analyst reports. Zacks Investment Research upgraded Novelion Therapeutics from a “hold” rating to a “buy” rating and set a $1.00 price objective for the company in a research note on Tuesday, November 20th. ValuEngine upgraded Novelion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

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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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Earnings History for Novelion Therapeutics (NASDAQ:NVLN)

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