Arbutus Biopharma (NASDAQ:ABUS) Releases Earnings Results, Beats Estimates By $0.32 EPS

Arbutus Biopharma (NASDAQ:ABUS) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.32, FiscalAI reports. Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The company had revenue of $0.30 million during the quarter, compared to the consensus estimate of $1.00 million.

Arbutus Biopharma Stock Down 0.1%

Shares of ABUS traded down $0.01 during trading hours on Wednesday, hitting $3.81. The company had a trading volume of 303,261 shares, compared to its average volume of 2,928,282. The firm has a market cap of $755.77 million, a price-to-earnings ratio of 4.80 and a beta of 0.84. The business has a fifty day moving average of $4.53 and a 200-day moving average of $4.48. Arbutus Biopharma has a 12 month low of $3.50 and a 12 month high of $5.45.

Arbutus Biopharma declared that its Board of Directors has authorized a stock buyback plan on Friday, August 21st that authorizes the company to buy back shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Share repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ABUS shares. Wall Street Zen downgraded Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings raised Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.00.

About Arbutus Biopharma

Arbutus Biopharma is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection. Its research programs include RNA interference (RNAi) therapies, immune-based treatments and capsid assembly inhibitors, which target different aspects of the virus and the body’s response to infection. The company’s investigational portfolio includes imdusiran, an RNAi therapeutic designed to reduce hepatitis B surface antigen, as well as other HBV drug candidates at various stages of development.