Wall Street analysts expect Arbutus Biopharma Corporation (NASDAQ:ABUS) to report $790,000.00 in sales for the current quarter, according to Zacks. Three analysts have made estimates for Arbutus Biopharma Corporation’s earnings, with the lowest sales estimate coming in at $660,000.00 and the highest estimate coming in at $1.00 million. Arbutus Biopharma Corporation posted sales of $700,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 12.9%. The business is expected to announce its next earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Arbutus Biopharma Corporation will report full year sales of $790,000.00 for the current fiscal year, with estimates ranging from $2.00 million to $3.24 million. For the next year, analysts anticipate that the firm will report sales of $3.96 million per share, with estimates ranging from $2.64 million to $5.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Arbutus Biopharma Corporation.

ABUS has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Arbutus Biopharma Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Ladenburg Thalmann Financial Services initiated coverage on Arbutus Biopharma Corporation in a research note on Friday, June 2nd. They issued a “buy” rating and a $32.00 price objective for the company. Chardan Capital restated a “buy” rating on shares of Arbutus Biopharma Corporation in a research note on Wednesday, September 13th. Wedbush restated an “outperform” rating and issued a $9.00 price objective on shares of Arbutus Biopharma Corporation in a research note on Wednesday, September 20th. Finally, ValuEngine upgraded Arbutus Biopharma Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Arbutus Biopharma Corporation has a consensus rating of “Buy” and a consensus price target of $12.56.

In other news, insider Michael J. Sofia sold 30,000 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $3.70, for a total transaction of $111,000.00. Following the completion of the transaction, the insider now owns 1,563,403 shares in the company, valued at approximately $5,784,591.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Arbutus Biopharma Corporation by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock worth $279,000 after acquiring an additional 2,035 shares during the period. Bank of Montreal Can grew its stake in shares of Arbutus Biopharma Corporation by 1.9% during the 2nd quarter. Bank of Montreal Can now owns 874,254 shares of the biopharmaceutical company’s stock worth $3,147,000 after acquiring an additional 16,535 shares during the period. OxFORD Asset Management LLP grew its stake in shares of Arbutus Biopharma Corporation by 89.9% during the 2nd 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 during the period. Renaissance Technologies LLC grew its stake in shares of Arbutus Biopharma Corporation by 785.1% during the 1st quarter. Renaissance Technologies LLC now owns 124,573 shares of the biopharmaceutical company’s stock worth $405,000 after acquiring an additional 110,499 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Arbutus Biopharma Corporation during the 2nd quarter worth $478,000. Institutional investors own 67.04% of the company’s stock.

TRADEMARK VIOLATION WARNING: This story was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://www.thecerbatgem.com/2017/09/28/zacks-brokerages-anticipate-arbutus-biopharma-corporation-abus-will-post-quarterly-sales-of-790000-00.html.

Arbutus Biopharma Corporation (ABUS) opened at 6.40 on Thursday. The firm’s 50-day moving average is $4.08 and its 200-day moving average is $3.58. Arbutus Biopharma Corporation has a 52-week low of $2.35 and a 52-week high of $7.85. The company’s market capitalization is $352.17 million.

About Arbutus Biopharma Corporation

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).

Get a free copy of the Zacks research report on Arbutus Biopharma Corporation (ABUS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Arbutus Biopharma Corporation (NASDAQ:ABUS)

Receive News & Stock Ratings for Arbutus Biopharma Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arbutus Biopharma Corporation and related stocks with our FREE daily email newsletter.