Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) had its price target trimmed by Royal Bank Of Canada from $9.00 to $8.00 in a report published on Friday. The brokerage currently has a sector perform rating on the biotechnology company’s stock.

Separately, ValuEngine cut shares of Novelion Therapeutics from a sell rating to a strong sell rating in a research report on Tuesday, September 12th.

Novelion Therapeutics (NASDAQ NVLN) traded down $0.01 during trading on Friday, reaching $4.40. 45,300 shares of the company were exchanged, compared to its average volume of 102,937. The company has a current ratio of 1.45, a quick ratio of 1.28 and a debt-to-equity ratio of 6.53. Novelion Therapeutics has a 52 week low of $4.19 and a 52 week high of $13.80.

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A number of hedge funds have recently bought and sold shares of NVLN. State of Wisconsin Investment Board bought a new position in Novelion Therapeutics during the second quarter valued at $102,000. JPMorgan Chase & Co. increased its position in Novelion Therapeutics by 167.2% during the first quarter. JPMorgan Chase & Co. now owns 10,292 shares of the biotechnology company’s stock valued at $110,000 after acquiring an additional 6,440 shares during the last quarter. Franklin Resources Inc. increased its position in Novelion Therapeutics by 4.2% during the second quarter. Franklin Resources Inc. now owns 12,798 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 511 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Novelion Therapeutics by 8,096.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,179 shares of the biotechnology company’s stock valued at $130,000 after acquiring an additional 14,006 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in Novelion Therapeutics during the second quarter valued at $146,000. Institutional investors and hedge funds own 78.35% of the company’s stock.

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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