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

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

A number of other analysts have also recently commented on the company. HC Wainwright reissued a buy rating and issued a $5.00 price target on shares of Arbutus Biopharma in a research report on Thursday, June 6th. Chardan Capital reissued a buy rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research report on Wednesday, June 5th.

Arbutus Biopharma Price Performance

ABUS stock opened at $3.74 on Friday. Arbutus Biopharma has a 1 year low of $1.69 and a 1 year high of $3.98. The company has a market cap of $704.87 million, a P/E ratio of -8.49 and a beta of 1.96. The firm has a 50-day moving average of $3.39 and a 200 day moving average of $2.96.

Arbutus Biopharma (NASDAQ:ABUS) last released 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). Arbutus Biopharma had a negative return on equity of 68.02% and a negative net margin of 766.20%. The company had revenue of $1.73 million during the quarter, compared to the consensus estimate of $1.54 million. During the same period in the previous year, the company earned ($0.10) earnings per share. On average, equities research analysts expect that Arbutus Biopharma will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arbutus Biopharma

A number of hedge funds have recently added to or reduced their stakes in the company. Premier Path Wealth Partners LLC raised its holdings in Arbutus Biopharma by 18.0% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 36,000 shares of the biopharmaceutical company’s stock worth $111,000 after acquiring an additional 5,500 shares during the last quarter. SG Americas Securities LLC raised its holdings in Arbutus Biopharma by 15.3% in the 4th 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 worth $94,000 after acquiring an additional 6,649 shares during the last quarter. Verus Capital Partners LLC raised its holdings in Arbutus Biopharma by 30.5% in the 1st quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 9,800 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Arbutus Biopharma in the 2nd quarter worth approximately $34,000. 43.79% of the stock is currently owned by hedge funds and other institutional investors.

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.