Arbutus Biopharma Corp (NASDAQ:ABUS) Receives Average Recommendation of “Hold” from Brokerages
Arbutus Biopharma Corp (NASDAQ:ABUS) has been assigned an average rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $6.33.
A number of equities analysts recently weighed in on the stock. Chardan Capital reiterated a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a report on Tuesday, July 16th. ValuEngine upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Monday, August 12th.
A number of large investors have recently bought and sold shares of ABUS. Morgan Stanley lifted its holdings in shares of Arbutus Biopharma by 66.7% in the 2nd quarter. Morgan Stanley now owns 1,609,886 shares of the biopharmaceutical company’s stock worth $3,349,000 after acquiring an additional 643,955 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Arbutus Biopharma in the 2nd quarter worth approximately $1,306,000. Jane Street Group LLC acquired a new position in shares of Arbutus Biopharma in the 2nd quarter worth approximately $348,000. Paloma Partners Management Co acquired a new position in shares of Arbutus Biopharma in the 2nd quarter worth approximately $327,000. Finally, Bank of Montreal Can lifted its holdings in shares of Arbutus Biopharma by 7.1% in the 2nd quarter. Bank of Montreal Can now owns 1,049,006 shares of the biopharmaceutical company’s stock worth $2,182,000 after acquiring an additional 69,882 shares during the last quarter. Institutional investors own 36.49% of the company’s stock.
Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.11). The business had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.88 million. Arbutus Biopharma had a negative return on equity of 125.64% and a negative net margin of 1,948.40%. As a group, research analysts predict that Arbutus Biopharma will post -1.41 earnings per share for the current fiscal year.
About Arbutus Biopharma
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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