Analysts Set Arbutus Biopharma Corp (ABUS) PT at $8.00
Arbutus Biopharma Corp (NASDAQ:ABUS) has earned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the company. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $8.00.
Several equities analysts recently issued reports on ABUS shares. Bloom Burton raised Arbutus Biopharma Corp from an “accumulate” rating to a “buy” rating in a research report on Monday, January 9th. Zacks Investment Research cut Arbutus Biopharma Corp from a “hold” rating to a “sell” rating in a research report on Friday, January 27th. Wedbush reaffirmed an “outperform” rating and issued a $10.00 price objective (up from $9.00) on shares of Arbutus Biopharma Corp in a research report on Wednesday, March 22nd. Finally, Chardan Capital raised Arbutus Biopharma Corp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.00 to $6.00 in a research report on Tuesday, April 4th.
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Large investors have recently made changes to their positions in the stock. K2 Principal Fund L.P. raised its stake in shares of Arbutus Biopharma Corp 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 buying an additional 44,070 shares in the last quarter. Oxford Asset Management bought a new stake in shares of Arbutus Biopharma Corp during the fourth quarter worth $392,000. Baker BROS. Advisors LP bought a new stake in shares of Arbutus Biopharma Corp during the third quarter worth $621,000. Bank of Montreal Can raised its stake in shares of Arbutus Biopharma Corp by 6.3% in the third quarter. Bank of Montreal Can now owns 861,553 shares of the biopharmaceutical company’s stock worth $2,964,000 after buying an additional 50,768 shares in the last quarter. Finally, Armistice Capital LLC raised its stake in shares of Arbutus Biopharma Corp by 38.6% in the fourth quarter. Armistice Capital LLC now owns 1,940,000 shares of the biopharmaceutical company’s stock worth $4,753,000 after buying an additional 540,000 shares in the last quarter. Institutional investors and hedge funds own 61.24% of the company’s stock.
Shares of Arbutus Biopharma Corp (NASDAQ:ABUS) remained flat at $3.35 on Tuesday. The company had a trading volume of 187,149 shares. The firm has a 50-day moving average of $3.10 and a 200 day moving average of $2.88. Arbutus Biopharma Corp has a 52-week low of $2.35 and a 52-week high of $5.48. The company’s market capitalization is $184.33 million.
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).
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