Novelion Therapeutics (NVLN) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

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

NASDAQ:NVLN opened at $1.22 on Friday. Novelion Therapeutics has a 1-year low of $0.70 and a 1-year high of $4.80. The firm has a market capitalization of $23.40 million, a P/E ratio of -0.18 and a beta of 2.16.

In related news, major shareholder Healthcare Master Fun Broadfin sold 278,485 shares of the firm’s stock in a transaction on Wednesday, December 26th. The shares were sold at an average price of $0.91, for a total value of $253,421.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.00% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Novelion Therapeutics stock. Geode Capital Management LLC boosted its stake in shares of Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) by 45.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,901 shares of the biotechnology company’s stock after purchasing an additional 26,003 shares during the quarter. Geode Capital Management LLC owned about 0.44% of Novelion Therapeutics worth $71,000 at the end of the most recent reporting period. 43.20% of the stock is owned by institutional investors and hedge funds.

Several research firms recently weighed in on NVLN. Zacks Investment Research raised shares of Novelion Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd. ValuEngine raised shares of Novelion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.

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Novelion Therapeutics Company Profile

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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