Arbutus Biopharma (NASDAQ:ABUS) Posts Earnings Results, Misses Expectations By $0.01 EPS

Arbutus Biopharma (NASDAQ:ABUS) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01), Zacks reports. The firm had revenue of $1.73 million for the quarter, compared to the consensus estimate of $1.54 million. Arbutus Biopharma had a negative net margin of 766.20% and a negative return on equity of 68.02%. During the same period in the prior year, the business earned ($0.10) earnings per share.

Arbutus Biopharma Price Performance

ABUS stock opened at $3.74 on Friday. The company has a 50 day moving average price of $3.39 and a 200 day moving average price of $2.97. Arbutus Biopharma has a fifty-two week low of $1.69 and a fifty-two week high of $3.98. The stock has a market capitalization of $704.87 million, a PE ratio of -8.49 and a beta of 1.96.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com cut shares of Arbutus Biopharma from a “hold” rating to a “sell” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research note on Thursday, June 6th. JMP Securities increased their target price on Arbutus Biopharma from $4.00 to $5.00 and gave the stock a “market outperform” rating in a report on Friday. Finally, 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 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.