Arbutus Biopharma Corp. (ABUS) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Arbutus Biopharma Corp. (NASDAQ:ABUS) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.67.
A number of equities research analysts have issued reports on the company. Chardan Capital upgraded Arbutus Biopharma Corp. from a “sell” rating to a “neutral” rating and set a $3.25 price target for the company in a research note on Thursday, June 16th. Leerink Swann downgraded Arbutus Biopharma Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 17th. Zacks Investment Research upgraded Arbutus Biopharma Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 24th. William Blair assumed coverage on Arbutus Biopharma Corp. in a research note on Friday, August 19th. They set a “buy” rating and a $7.00 price target for the company. Finally, Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Arbutus Biopharma Corp. in a research note on Friday, September 23rd.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. K2 Principal Fund L.P. boosted its position in Arbutus Biopharma Corp. by 113.6% in the second quarter. K2 Principal Fund L.P. now owns 63,550 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 33,796 shares in the last quarter. AXA boosted its position in Arbutus Biopharma Corp. by 1.4% in the second quarter. AXA now owns 792,358 shares of the biopharmaceutical company’s stock worth $2,757,000 after buying an additional 11,062 shares in the last quarter. Suffolk Capital Management LLC boosted its position in Arbutus Biopharma Corp. by 7.6% in the second quarter. Suffolk Capital Management LLC now owns 441,915 shares of the biopharmaceutical company’s stock worth $1,538,000 after buying an additional 31,023 shares in the last quarter. I.G. Investment Management LTD. acquired a new position in Arbutus Biopharma Corp. during the second quarter worth approximately $870,000. Finally, Bank of Montreal Can acquired a new position in Arbutus Biopharma Corp. during the second quarter worth approximately $2,822,000. 31.87% of the stock is currently owned by hedge funds and other institutional investors.
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Arbutus Biopharma Corp. (NASDAQ:ABUS) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.36. Arbutus Biopharma Corp. had a negative net margin of 1,017.01% and a negative return on equity of 8.87%.
About Arbutus Biopharma Corp.
Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).
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