Zacks Investment Research Downgrades Arbutus Biopharma (ABUS) to Sell

Arbutus Biopharma (NASDAQ:ABUS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

According to Zacks, “Arbutus Biopharma Corporation is a biopharmaceutical company which is focused on discovering, developing and commercializing a portfolio of drug candidates for chronic hepatitis B infection. The Company’s products include TKM-HBV, Cyclophilin Inhibitor-OCB-030, TLR9 Agonist (CYT-003), Capsid Assembly Inhibitors, Surface Antigen Secretion Inhibitors, STING Agonists, cccDNA Formation Inhibitors, cccDNA Epigenetic Modifiers, TKM-PLK1, GI-NET and ACC, HCC, TKM-Ebola, TKM-Ebola-Guinea, TKM-Marburg, TKM-HTG and TKM-ALDH which are in different clinical trial stage. Arbutus Biopharma Corp, formerly known as Tekmira Pharmaceuticals Corporation, is headquartered in Vancouver, BC. “

ABUS has been the subject of several other reports. JMP Securities reissued an “outperform” rating and set a $13.00 price objective (up from $12.00) on shares of Arbutus Biopharma in a report on Wednesday, October 4th. Wedbush reissued an “outperform” rating and set a $9.00 price objective on shares of Arbutus Biopharma in a report on Wednesday, September 20th. BidaskClub raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. ValuEngine lowered shares of Arbutus Biopharma from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Finally, B. Riley initiated coverage on shares of Arbutus Biopharma in a report on Friday, January 5th. They set a “buy” rating and a $10.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.50.

Arbutus Biopharma (NASDAQ:ABUS) traded up $0.15 on Thursday, reaching $5.20. 125,400 shares of the company were exchanged, compared to its average volume of 205,809. The firm has a market cap of $286.27, a price-to-earnings ratio of -1.04 and a beta of 1.07. Arbutus Biopharma has a 1-year low of $2.35 and a 1-year high of $8.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 11.03 and a current ratio of 11.03.

Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.21. analysts forecast that Arbutus Biopharma will post -1.29 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in ABUS. Vanguard Group Inc. grew its stake in shares of Arbutus Biopharma 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 purchasing an additional 2,035 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Arbutus Biopharma 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 purchasing an additional 16,535 shares during the last quarter. Suffolk Capital Management LLC grew its stake in shares of Arbutus Biopharma by 7.6% in the 2nd quarter. Suffolk Capital Management LLC now owns 441,915 shares of the biopharmaceutical company’s stock worth $1,538,000 after purchasing an additional 31,023 shares during the last quarter. OxFORD Asset Management LLP increased its position in shares of Arbutus Biopharma by 89.9% in the second quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock worth $300,000 after acquiring an additional 39,436 shares in the last quarter. Finally, K2 Principal Fund L.P. increased its position in shares of Arbutus Biopharma by 69.3% in the third quarter. K2 Principal Fund L.P. now owns 107,620 shares of the biopharmaceutical company’s stock worth $370,000 after acquiring an additional 44,070 shares in the last quarter. 59.97% of the stock is currently owned by hedge funds and other institutional investors.

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Arbutus Biopharma 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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