What’s Propelling Novelion Therapeutics Inc. (NVLN) to Decrease? The Stock Formed a Bearish Double Bottom Pattern

June 20, 2018 - By Kurt Siggers

The chart of Novelion Therapeutics Inc. (NVLN) shows a double bottom with $3.52 target or 8.00 % below today’s $3.83 share price. The 8 months chart pattern indicates high risk for the $71.55 million company. It was reported on Jun, 20 by Finviz.com. If the $3.52 price target is reached, the company will be worth $5.72 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 0.13% or $0.005 during the last trading session, reaching $3.825. About 17,447 shares traded. Novelion Therapeutics Inc. (NASDAQ:NVLN) has declined 55.52% since June 20, 2017 and is downtrending. It has underperformed by 68.09% the S&P500.

More news for Novelion Therapeutics Inc. (NASDAQ:NVLN) were recently published by: Streetinsider.com, which released: “Novelion Therapeutics (NVLN) Says MYALEPTA Receives Positive CHMP Opinion in Patients with Generalized and …” on June 01, 2018. Nasdaq.com‘s article titled: “MYALEPTA® (metreleptin) Receives Positive CHMP Opinion in Patients with Generalized and Partial Lipodystrophy” and published on June 01, 2018 is yet another important article.

Novelion Therapeutics Inc., a biopharmaceutical company, develops a portfolio of therapies for individuals living with rare diseases. The company has market cap of $71.55 million. The Company’s product portfolio includes MYALEPT , a recombinant analogue of human leptin, indicated as an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy; and lomitapide hard capsule for the treatment of homozygous familial hypercholesterolemia in adults under the brand names of JUXTAPID and LOJUXTA. It currently has negative earnings. The companyÂ’s orphan drug-designated product candidate is zuretinol acetate, an oral synthetic retinoid, in late stage development for the treatment of inherited retinal disease caused by underlying mutations in retinal pigment epithelium protein 65 and lecithin: retinol acyltransferase genes.

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