Novelion Therapeutics (NASDAQ:NVLN) Shares Pass Above 50 Day Moving Average of $0.83

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Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.83 and traded as high as $0.67. Novelion Therapeutics shares last traded at $0.67, with a volume of 2,774 shares traded.

A number of equities analysts recently weighed in on NVLN shares. Zacks Investment Research lowered shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine upgraded shares of Westpac Banking from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd.

The stock’s 50-day simple moving average is $0.83. The firm has a market cap of $13.54 million, a price-to-earnings ratio of -0.12 and a beta of 2.13.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last released its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($1.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($1.82). The business had revenue of $32.20 million for the quarter, compared to analyst estimates of $58.10 million.

A hedge fund recently bought a new stake in Novelion Therapeutics stock. Highbridge Capital Management LLC acquired a new stake in shares of Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 946,842 shares of the biotechnology company’s stock, valued at approximately $795,000. Highbridge Capital Management LLC owned about 5.00% of Novelion Therapeutics as of its most recent SEC filing. 37.05% of the stock is owned by institutional investors and hedge funds.

About Novelion Therapeutics (NASDAQ:NVLN)

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.

See Also: Net Income

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