Arbutus Biopharma Corporation to Post Q1 2018 Earnings of ($0.38) Per Share, Wedbush Forecasts (ABUS)
Arbutus Biopharma Corporation (NASDAQ:ABUS) – Wedbush cut their Q1 2018 earnings per share (EPS) estimates for shares of Arbutus Biopharma Corporation in a research note issued to investors on Monday. Wedbush analyst R. Driscoll now forecasts that the biopharmaceutical company will post earnings per share of ($0.38) for the quarter, down from their previous estimate of ($0.32). Wedbush currently has a “Outperform” rating and a $9.00 target price on the stock. Wedbush also issued estimates for Arbutus Biopharma Corporation’s Q2 2018 earnings at ($0.39) EPS, Q3 2018 earnings at ($0.40) EPS, Q4 2018 earnings at ($0.41) EPS, FY2018 earnings at ($1.57) EPS, FY2019 earnings at ($1.53) EPS, FY2020 earnings at ($1.30) EPS and FY2021 earnings at ($0.34) EPS.
A number of other research analysts have also recently issued reports on the stock. ValuEngine raised shares of Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Chardan Capital reiterated a “buy” rating on shares of Arbutus Biopharma Corporation in a research note on Monday, August 7th. Finally, Zacks Investment Research raised shares of Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 10th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $12.56.
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Shares of Arbutus Biopharma Corporation (NASDAQ ABUS) traded up 0.331% during midday trading on Wednesday, reaching $7.575. 125,894 shares of the company traded hands. Arbutus Biopharma Corporation has a 1-year low of $2.35 and a 1-year high of $8.25. The company’s market capitalization is $416.82 million. The company has a 50 day moving average price of $4.98 and a 200 day moving average price of $3.87.
In other news, insider Michael J. Sofia sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $3.70, for a total value of $111,000.00. Following the completion of the transaction, the insider now directly owns 1,563,403 shares in the company, valued at $5,784,591.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ABUS. Renaissance Technologies LLC boosted its position in Arbutus Biopharma Corporation 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 during the last quarter. Bank of Montreal Can increased its holdings in Arbutus Biopharma Corporation by 1.9% in the 2nd quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock worth $3,147,000 after buying an additional 16,535 shares during the period. Victory Capital Management Inc. acquired a new position in Arbutus Biopharma Corporation in the 2nd quarter worth approximately $478,000. Vanguard Group Inc. increased its holdings in Arbutus Biopharma Corporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 2,035 shares during the period. Finally, OxFORD Asset Management LLP increased its holdings in Arbutus Biopharma Corporation by 89.9% in the 2nd quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock worth $300,000 after buying an additional 39,436 shares during the period. Hedge funds and other institutional investors own 67.04% of the company’s stock.
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).
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