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RBC rates QLT at sector perform
RBC Capital Markets analyst Douglas Miehm gave QLT Inc. a sector perform rating after the company said it was delaying its phase 2 trial of octreotide in patients with acromegaly (hormone disorder) pending an analysis of toxicology results expected at the end of the year. Because RBC did not include revenues from the sale of this compound in its model, its outlook on QLT is unchanged with a 12-month price target of $7.00. Shares of the Vancouver, B.C., biopharmaceutical company were up 3 cents, or 0.39%, at $7.67 on volume of 1,241,880 shares versus the three-month running average of 1,336,500 shares. (Nasdaq: QLTI)
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