Arbutus Biopharma Corp. (ABUS) Upgraded to “Neutral” at Chardan Capital
Arbutus Biopharma Corp. (NASDAQ:ABUS) was upgraded by equities researchers at Chardan Capital from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Friday. The firm currently has a $3.00 price target on the biopharmaceutical company’s stock. Chardan Capital’s price target suggests a potential upside of 2.04% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other analysts have also issued reports on ABUS. Leerink Swann lowered shares of Arbutus Biopharma Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 17th. Zacks Investment Research raised Arbutus Biopharma Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. William Blair initiated coverage on Arbutus Biopharma Corp. in a research report on Friday, August 19th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Arbutus Biopharma Corp. in a research report on Friday, September 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Arbutus Biopharma Corp. currently has a consensus rating of “Buy” and an average price target of $7.33.
Arbutus Biopharma Corp. (NASDAQ:ABUS) opened at 2.94 on Friday. The company has a 50 day moving average of $3.66 and a 200 day moving average of $4.02. The stock’s market capitalization is $161.10 million. Arbutus Biopharma Corp. has a 12 month low of $2.72 and a 12 month high of $6.74.
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Arbutus Biopharma Corp. (NASDAQ:ABUS) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the 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%. On average, equities analysts predict that Arbutus Biopharma Corp. will post ($3.35) EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. K2 Principal Fund L.P. increased its position in shares of 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 increased its position in shares of 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 increased its position in shares of 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. bought a new position in shares of Arbutus Biopharma Corp. during the second quarter worth approximately $870,000. Finally, Bank of Montreal Can bought a new position in shares of Arbutus Biopharma Corp. during the second quarter worth approximately $2,822,000. 31.87% of the stock is owned by institutional investors and hedge funds.
Arbutus Biopharma Corp. Company Profile
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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