Zacks: Analysts Anticipate Arbutus Biopharma Corporation (ABUS) Will Announce Quarterly Sales of $790,000.00
Equities analysts predict that Arbutus Biopharma Corporation (NASDAQ:ABUS) will report sales of $790,000.00 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Arbutus Biopharma Corporation’s earnings. The lowest sales estimate is $660,000.00 and the highest is $1.00 million. Arbutus Biopharma Corporation reported sales of $700,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.9%. The company is scheduled to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Arbutus Biopharma Corporation will report full year sales of $790,000.00 for the current fiscal year, with estimates ranging from $2.00 million to $3.24 million. For the next fiscal year, analysts forecast that the company will report sales of $3.96 million per share, with estimates ranging from $2.64 million to $5.50 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Arbutus Biopharma Corporation.
Several brokerages recently commented on ABUS. Chardan Capital reaffirmed a “buy” rating on shares of Arbutus Biopharma Corporation in a research note on Monday, August 7th. Zacks Investment Research raised Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Finally, Ladenburg Thalmann Financial Services assumed coverage on Arbutus Biopharma Corporation in a research note on Friday, June 2nd. They set a “buy” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Arbutus Biopharma Corporation presently has an average rating of “Buy” and an average target price of $12.81.
COPYRIGHT VIOLATION WARNING: “Zacks: Analysts Anticipate Arbutus Biopharma Corporation (ABUS) Will Announce Quarterly Sales of $790,000.00” was posted by American Banking News and is the property of of American Banking News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/09/10/zacks-analysts-anticipate-arbutus-biopharma-corporation-abus-will-announce-quarterly-sales-of-790000-00.html.
In other Arbutus Biopharma Corporation news, insider Michael J. Sofia sold 30,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $3.70, for a total transaction of $111,000.00. Following the completion of the transaction, the insider now owns 1,563,403 shares in the company, valued at approximately $5,784,591.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Arbutus Biopharma Corporation by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock worth $279,000 after purchasing an additional 2,035 shares in the last quarter. OxFORD Asset Management LLP increased its holdings in Arbutus Biopharma Corporation by 89.9% during the 2nd quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock worth $300,000 after purchasing an additional 39,436 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Arbutus Biopharma Corporation by 785.1% during the 1st quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock worth $405,000 after purchasing an additional 110,499 shares in the last quarter. Victory Capital Management Inc. bought a new position in Arbutus Biopharma Corporation during the 2nd quarter worth about $478,000. Finally, Bank of Montreal Can increased its holdings in Arbutus Biopharma Corporation by 1.9% during the 2nd quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock worth $3,147,000 after purchasing an additional 16,535 shares in the last quarter. Hedge funds and other institutional investors own 67.06% of the company’s stock.
Arbutus Biopharma Corporation (NASDAQ:ABUS) opened at 4.70 on Friday. The firm has a 50-day moving average price of $3.82 and a 200-day moving average price of $3.46. The stock’s market cap is $258.62 million. Arbutus Biopharma Corporation has a 52 week low of $2.35 and a 52 week high of $4.70.
Arbutus Biopharma Corporation 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Arbutus Biopharma Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arbutus Biopharma Corporation and related companies with MarketBeat.com's FREE daily email newsletter.