QLT Inc. (QLTI) saw a big move last session, as the company’s shares fell by over 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for QLTI as the stock is now down nearly 22% since April 24.
This slump shouldn’t be too much of a surprise to investors, as the biotechnology company has seen 1 negative revisions in the past few weeks and its current year loss has widened over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
QLT currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.0%.
Some better-ranked stocks in the same sector include Astellas Pharma, Inc. (ALPMY), Avanir Pharmaceuticals, Inc. (AVNR) and Shire plc (SHPG). All these stocks carry a Zacks Rank #2 (Buy).
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QLT INC (QLTI): Free Stock Analysis Report
ASTELLAS PHARMA INC (ALPMY): Free Stock Analysis Report
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