Zacks Investment Research upgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a hold rating to a buy rating in a report published on Tuesday. They currently have $4.50 price target on the biopharmaceutical company’s stock.
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 research firms have also recently commented on ABUS. BidaskClub raised Arbutus Biopharma from a hold rating to a buy rating in a report on Tuesday, March 5th. ValuEngine cut Arbutus Biopharma from a buy rating to a hold rating in a report on Saturday, December 1st. Finally, Chardan Capital reissued a buy rating and set a $6.50 price target on shares of Arbutus Biopharma in a report on Sunday, March 10th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $6.25.
Arbutus Biopharma stock opened at $3.75 on Tuesday. Arbutus Biopharma has a 52 week low of $3.20 and a 52 week high of $12.60. The firm has a market cap of $223.36 million, a PE ratio of -3.68 and a beta of 1.81.
Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Thursday, March 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Arbutus Biopharma had a negative return on equity of 74.52% and a negative net margin of 986.23%. The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $0.77 million. Research analysts expect that Arbutus Biopharma will post -1.31 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its holdings in Arbutus Biopharma by 367.7% in the 3rd quarter. Legal & General Group Plc now owns 24,540 shares of the biopharmaceutical company’s stock worth $232,000 after purchasing an additional 19,293 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in Arbutus Biopharma in the 3rd quarter worth about $270,000. Alliancebernstein L.P. acquired a new position in Arbutus Biopharma in the 3rd quarter worth about $282,000. Sphera Funds Management LTD. acquired a new position in Arbutus Biopharma in the 3rd quarter worth about $378,000. Finally, AQR Capital Management LLC increased its holdings in Arbutus Biopharma by 142.3% in the 3rd quarter. AQR Capital Management LLC now owns 46,576 shares of the biopharmaceutical company’s stock worth $440,000 after purchasing an additional 27,354 shares in the last quarter. 42.92% of the stock is owned by institutional investors and hedge funds.
About Arbutus Biopharma
Arbutus Biopharma Corp. is a biopharmaceutical company, engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company was founded on October 6, 2005 and is headquartered in Burnaby, Canada.
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