QLT rated at sector perform by RBC

RBC Capital Markets analyst Douglas Miehm rated QLT Inc. at sector perform, above average risk, after the company reported second-quarter results. GAAP earnings per share of $0.09 were below the analyst's and consensus of $0.12. Total revenues for the quarter declined to $47.8 million from $59.6 million in the same period last year. QLT lowered its guidance to the range of $370 million to $385 million from $370 million to $400 million originally. Shares of the Vancouver, B.C.-based biopharmaceutical company were down 12 cents, or 1.68%, at $7.03 on volume of 1,036,373 shares versus the three-month running average of 762,080 shares. (Nasdaq: QLTI)

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