Arbutus Biopharma (NASDAQ:ABUS) PT Raised to $7.00

Arbutus Biopharma (NASDAQ:ABUS) had its price target increased by analysts at Jefferies Financial Group from $5.00 to $7.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 53.85% from the company’s previous close.

Several other equities analysts have also issued reports on ABUS. JMP Securities upped their price target on Arbutus Biopharma from $4.00 to $5.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Chardan Capital restated a “buy” rating and set a $4.00 target price on shares of Arbutus Biopharma in a research report on Wednesday, June 5th. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Arbutus Biopharma in a research report on Thursday, June 6th. Finally, StockNews.com upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Arbutus Biopharma currently has an average rating of “Moderate Buy” and an average target price of $5.25.

Arbutus Biopharma Stock Up 0.9 %

Shares of NASDAQ ABUS opened at $4.55 on Thursday. Arbutus Biopharma has a 1-year low of $1.69 and a 1-year high of $4.56. The company has a 50-day moving average of $3.72 and a two-hundred day moving average of $3.19.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $1.73 million during the quarter, compared to the consensus estimate of $1.54 million. Arbutus Biopharma had a negative return on equity of 66.68% and a negative net margin of 766.20%. During the same quarter last year, the firm earned ($0.10) EPS. As a group, sell-side analysts forecast that Arbutus Biopharma will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Arbutus Biopharma in the 1st quarter valued at approximately $266,000. BNP Paribas Financial Markets boosted its position in shares of Arbutus Biopharma by 19.7% during the first quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock worth $902,000 after purchasing an additional 57,390 shares in the last quarter. Kennedy Capital Management LLC boosted its position in shares of Arbutus Biopharma by 12.7% during the first quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock worth $1,126,000 after purchasing an additional 49,265 shares in the last quarter. Walleye Trading LLC acquired a new position in shares of Arbutus Biopharma in the 1st quarter valued at $36,000. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Arbutus Biopharma by 22.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after buying an additional 6,649 shares in the last quarter. Institutional investors own 43.79% of the company’s stock.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.