Wall Street brokerages predict that Arbutus Biopharma Corp (NASDAQ:ABUS) will report earnings of ($0.35) per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Arbutus Biopharma’s earnings, with estimates ranging from ($0.36) to ($0.34). Arbutus Biopharma posted earnings of ($0.44) per share in the same quarter last year, which suggests a positive year over year growth rate of 20.5%. The firm is expected to report its next quarterly earnings report on Thursday, August 1st.
According to Zacks, analysts expect that Arbutus Biopharma will report full year earnings of ($1.32) per share for the current financial year, with EPS estimates ranging from ($1.75) to ($0.65). For the next fiscal year, analysts expect that the business will report earnings of ($0.93) per share, with EPS estimates ranging from ($1.18) to ($0.53). Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Arbutus Biopharma.
Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.16). The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.18 million. Arbutus Biopharma had a negative net margin of 1,237.92% and a negative return on equity of 95.26%.
Several equities analysts have weighed in on the company. Zacks Investment Research lowered Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Friday. Echelon Wealth Partners reissued a “hold” rating on shares of Arbutus Biopharma in a research note on Monday, March 11th. Chardan Capital reissued a “buy” rating and issued a $6.50 target price on shares of Arbutus Biopharma in a research note on Sunday, March 10th. ValuEngine lowered Arbutus Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, BidaskClub raised Arbutus Biopharma from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Arbutus Biopharma presently has an average rating of “Hold” and an average price target of $6.25.
Arbutus Biopharma stock opened at $2.35 on Friday. The stock has a market capitalization of $133.60 million, a P/E ratio of -2.30 and a beta of 1.61. Arbutus Biopharma has a 12-month low of $2.29 and a 12-month high of $12.60. The company has a current ratio of 12.75, a quick ratio of 11.50 and a debt-to-equity ratio of 0.06.
A number of large investors have recently added to or reduced their stakes in ABUS. Wells Fargo & Company MN raised its position in shares of Arbutus Biopharma by 46.9% during the third quarter. Wells Fargo & Company MN now owns 68,063 shares of the biopharmaceutical company’s stock worth $644,000 after purchasing an additional 21,737 shares during the period. Bank of New York Mellon Corp raised its position in shares of Arbutus Biopharma by 129.9% during the third quarter. Bank of New York Mellon Corp now owns 191,857 shares of the biopharmaceutical company’s stock worth $1,813,000 after purchasing an additional 108,398 shares during the period. BlackRock Inc. raised its position in shares of Arbutus Biopharma by 1.3% during the third quarter. BlackRock Inc. now owns 2,422,221 shares of the biopharmaceutical company’s stock worth $22,891,000 after purchasing an additional 31,078 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of Arbutus Biopharma during the third quarter worth about $270,000. Finally, AQR Capital Management LLC raised its position in shares of Arbutus Biopharma by 142.3% during the third quarter. AQR Capital Management LLC now owns 46,576 shares of the biopharmaceutical company’s stock worth $440,000 after purchasing an additional 27,354 shares during the period. 42.59% of the stock is currently owned by hedge funds and other institutional investors.
Arbutus Biopharma Company Profile
Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.
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