Arbutus Biopharma (ABUS) Upgraded to Buy at Zacks Investment Research

Arbutus Biopharma (NASDAQ:ABUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $4.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 7.59% from the company’s current price.

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. “

A number of other analysts also recently issued reports on the stock. Wedbush downgraded shares of Arbutus Biopharma from a “neutral” rating to an “underperform” rating and set a $5.00 price target for the company. in a report on Tuesday, October 9th. JMP Securities downgraded shares of Arbutus Biopharma to a “market perform” rating in a report on Tuesday, October 9th. ValuEngine downgraded shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. BidaskClub downgraded shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. Finally, Chardan Capital cut their price target on shares of Arbutus Biopharma from $12.00 to $6.50 and set a “buy” rating for the company in a report on Friday, October 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $6.19.

ABUS traded up $0.06 during trading on Thursday, reaching $3.95. The company’s stock had a trading volume of 5,417 shares, compared to its average volume of 227,907. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.38 and a quick ratio of 11.38. Arbutus Biopharma has a 1 year low of $3.20 and a 1 year high of $12.60. The firm has a market capitalization of $206.38 million, a price-to-earnings ratio of -2.21 and a beta of 1.62.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.13). Arbutus Biopharma had a negative return on equity of 91.36% and a negative net margin of 1,116.69%. The business had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $0.23 million. On average, equities analysts anticipate that Arbutus Biopharma will post -1.49 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in shares of Arbutus Biopharma by 367.7% during the 3rd quarter. Legal & General Group Plc now owns 24,540 shares of the biopharmaceutical company’s stock worth $232,000 after buying an additional 19,293 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in Arbutus Biopharma in the 3rd quarter valued at approximately $270,000. Alliancebernstein L.P. acquired a new stake in Arbutus Biopharma in the 3rd quarter valued at approximately $282,000. Rhumbline Advisers acquired a new stake in Arbutus Biopharma in the 2nd quarter valued at approximately $243,000. Finally, Sphera Funds Management LTD. acquired a new stake in Arbutus Biopharma in the 3rd quarter valued at approximately $378,000. Institutional investors and hedge funds own 42.59% of the company’s stock.

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. It also develops a pipeline of products based on RNA interference therapeutics (RNAi).

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