Arbutus Biopharma (NASDAQ:ABUS) Price Target Increased to $5.00 by Analysts at JMP Securities

Arbutus Biopharma (NASDAQ:ABUS) had its price target boosted by JMP Securities from $4.00 to $5.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a market outperform rating on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the stock. HC Wainwright reaffirmed a buy rating and issued a $5.00 price target on shares of Arbutus Biopharma in a report on Thursday, June 6th. Chardan Capital reaffirmed a buy rating and issued a $4.00 price target on shares of Arbutus Biopharma in a report on Wednesday, June 5th.

Arbutus Biopharma Stock Down 2.0 %

NASDAQ:ABUS opened at $3.74 on Friday. Arbutus Biopharma has a 52 week low of $1.69 and a 52 week high of $3.98. The firm has a 50 day moving average of $3.39 and a 200 day moving average of $2.96. The stock has a market capitalization of $704.87 million, a price-to-earnings ratio of -8.49 and a beta of 1.96.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $1.73 million during the quarter, compared to analysts’ expectations of $1.54 million. Arbutus Biopharma had a negative return on equity of 68.02% and a negative net margin of 766.20%. During the same period in the prior year, the business posted ($0.10) EPS. As a group, analysts expect that Arbutus Biopharma will post -0.39 EPS for the current year.

Institutional Trading of Arbutus Biopharma

A number of hedge funds and other institutional investors have recently made changes to their positions in ABUS. SG Americas Securities LLC increased its stake in shares of Arbutus Biopharma by 15.3% in the fourth quarter. SG Americas Securities LLC now owns 46,172 shares of the biopharmaceutical company’s stock worth $115,000 after acquiring an additional 6,117 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Arbutus Biopharma by 351.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 15,104 shares during the period. BNP Paribas Financial Markets grew its position in Arbutus Biopharma by 20.5% during the fourth quarter. BNP Paribas Financial Markets now owns 292,045 shares of the biopharmaceutical company’s stock valued at $730,000 after buying an additional 49,745 shares during the period. Cowen AND Company LLC acquired a new stake in Arbutus Biopharma during the fourth quarter valued at $125,000. Finally, PFG Investments LLC acquired a new stake in Arbutus Biopharma during the first quarter valued at $50,000. Institutional investors and hedge funds 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.