Analysts Anticipate QLT Inc. (NASDAQ:QLTI) to Announce ($0.11) Earnings Per Share
Shares of QLT Inc. (NASDAQ:QLTI) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation. QLT’s rating score has improved by 50% from three months ago as a result of various analysts’ ratings changes.
Brokerages have set a one year consensus price objective of $2.75 for the company and are expecting that the company will post ($0.11) EPS for the current quarter, according to Zacks. Zacks has also assigned QLT an industry rank of 97 out of 265 based on the ratings given to related companies.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised QLT from a “sell” rating to a “hold” rating in a research note on Monday, September 26th. Royal Bank Of Canada reissued a “sector perform” rating on shares of QLT in a research note on Friday, June 17th.
In other QLT news, major shareholder Stonepine Capital, L.P. acquired 133,496 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average price of $1.55 per share, with a total value of $206,918.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. DRW Securities LLC purchased a new stake in QLT during the second quarter worth $115,000. Bridgeway Capital Management Inc. increased its stake in QLT by 67.6% in the second quarter. Bridgeway Capital Management Inc. now owns 172,500 shares of the company’s stock worth $245,000 after buying an additional 69,600 shares during the last quarter. Ancora Advisors LLC increased its stake in QLT by 1.5% in the second quarter. Ancora Advisors LLC now owns 3,396,083 shares of the company’s stock worth $4,822,000 after buying an additional 48,964 shares during the last quarter. K2 Principal Fund L.P. purchased a new stake in QLT during the second quarter worth $2,306,000. Finally, Stonepine Capital Management LLC purchased a new stake in QLT during the second quarter worth $5,367,000. Institutional investors and hedge funds own 62.04% of the company’s stock.
Shares of QLT (NASDAQ:QLTI) opened at 2.10 on Monday. The firm has a 50 day moving average price of $1.63 and a 200-day moving average price of $1.56. QLT has a 52-week low of $1.22 and a 52-week high of $3.28. The company’s market cap is $110.94 million.
QLT Company Profile
QLT Inc is a biotechnology company. The Company is focused on the development and commercialization of ocular products. The Company’s operations consist of clinical development programs focused on its synthetic retinoid, QLT091001, for the treatment of certain age-related and inherited retinal diseases (IRD) caused by retinal pigment epithelium protein 65 (RPE65) and lecithin: retinol acyltransferase (LRAT) gene mutations.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for QLT Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QLT Inc. and related companies with MarketBeat.com's FREE daily email newsletter.