Arbutus Biopharma Corp (ABUS) Given Consensus Rating of “Buy” by Analysts
Shares of Arbutus Biopharma Corp (NASDAQ:ABUS) have received an average recommendation of “Buy” from the seven brokerages that are presently covering the company. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $8.00.
ABUS has been the subject of several research reports. Zacks Investment Research raised shares of Arbutus Biopharma Corp from a “sell” rating to a “hold” rating in a research note on Friday, February 17th. Wedbush reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Arbutus Biopharma Corp in a research note on Tuesday, January 31st. Finally, Chardan Capital raised shares of Arbutus Biopharma Corp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.00 to $6.00 in a research note on Tuesday, April 4th.
Shares of Arbutus Biopharma Corp (NASDAQ:ABUS) remained flat at $3.35 on Monday. 38,341 shares of the stock traded hands. The firm has a 50 day moving average of $3.32 and a 200-day moving average of $2.91. Arbutus Biopharma Corp has a 52-week low of $2.35 and a 52-week high of $4.49. The firm’s market cap is $184.33 million.
Arbutus Biopharma Corp (NASDAQ:ABUS) last announced its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by $0.04. Arbutus Biopharma Corp had a negative net margin of 1,192.92% and a negative return on equity of 8.50%. The business had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $7.50 million. Equities research analysts expect that Arbutus Biopharma Corp will post ($1.64) EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in the stock. Baker BROS. Advisors LP acquired a new stake in shares of Arbutus Biopharma Corp during the third quarter valued at about $621,000. K2 Principal Fund L.P. boosted its stake in shares of Arbutus Biopharma Corp by 69.3% in the third quarter. K2 Principal Fund L.P. now owns 107,620 shares of the biopharmaceutical company’s stock valued at $370,000 after buying an additional 44,070 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Arbutus Biopharma Corp by 1,058,889.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,294,945 shares of the biopharmaceutical company’s stock valued at $12,972,000 after buying an additional 5,294,445 shares in the last quarter. Oxford Asset Management acquired a new stake in shares of Arbutus Biopharma Corp during the fourth quarter valued at about $392,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Arbutus Biopharma Corp by 785.1% in the first quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 110,499 shares in the last quarter. 61.24% of the stock is owned by institutional investors.
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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