Arbutus Biopharma Corp. (NASDAQ:ABUS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $4.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective indicates a potential upside of 17.65% from the company’s previous close.

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. “

Several other research firms have also issued reports on ABUS. Chardan Capital reaffirmed a “sell” rating on shares of Arbutus Biopharma Corp. in a research note on Sunday, October 2nd. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Arbutus Biopharma Corp. in a research note on Friday, September 23rd. William Blair reaffirmed an “outperform” rating on shares of Arbutus Biopharma Corp. in a research note on Sunday, August 21st. Finally, Leerink Swann lowered shares of Arbutus Biopharma Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $7.29.

Arbutus Biopharma Corp. (NASDAQ:ABUS) opened at 3.40 on Wednesday. The stock’s 50 day moving average is $3.75 and its 200 day moving average is $4.05. The company’s market cap is $186.31 million. Arbutus Biopharma Corp. has a 12 month low of $2.72 and a 12 month high of $6.74.

Arbutus Biopharma Corp. (NASDAQ:ABUS) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.36. Arbutus Biopharma Corp. had a negative net margin of 1,017.01% and a negative return on equity of 8.87%. Equities analysts predict that Arbutus Biopharma Corp. will post ($3.35) earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can purchased a new position in shares of Arbutus Biopharma Corp. during the second quarter valued at approximately $2,822,000. AXA increased its position in shares of Arbutus Biopharma Corp. by 1.4% in the second quarter. AXA now owns 792,358 shares of the biopharmaceutical company’s stock valued at $2,757,000 after buying an additional 11,062 shares during the period. Suffolk Capital Management LLC increased its position in shares of Arbutus Biopharma Corp. by 7.6% in the second quarter. Suffolk Capital Management LLC now owns 441,915 shares of the biopharmaceutical company’s stock valued at $1,538,000 after buying an additional 31,023 shares during the period. I.G. Investment Management LTD. purchased a new position in shares of Arbutus Biopharma Corp. during the second quarter valued at approximately $870,000. Finally, K2 Principal Fund L.P. increased its position in shares of Arbutus Biopharma Corp. by 113.6% in the second quarter. K2 Principal Fund L.P. now owns 63,550 shares of the biopharmaceutical company’s stock valued at $221,000 after buying an additional 33,796 shares during the period. Hedge funds and other institutional investors own 31.87% of the company’s stock.

Arbutus Biopharma Corp. 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).

5 Day Chart for NASDAQ:ABUS

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