Arbutus Biopharma Corp. (NASDAQ:ABUS)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a report issued on Friday. They currently have a $13.00 price objective on the biopharmaceutical company’s stock. Wedbush’s target price suggests a potential upside of 229.11% from the stock’s current price.

Several other brokerages have also recently commented on ABUS. Chardan Capital upgraded shares of Arbutus Biopharma Corp. from a “sell” rating to a “neutral” rating and set a $3.25 target price for the company in a report on Thursday, June 16th. Leerink Swann restated a “buy” rating on shares of Arbutus Biopharma Corp. in a report on Wednesday, July 20th. Zacks Investment Research cut shares of Arbutus Biopharma Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Finally, William Blair assumed coverage on shares of Arbutus Biopharma Corp. in a report on Friday, August 19th. They set a “buy” rating and a $7.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $7.63.

Arbutus Biopharma Corp. (NASDAQ:ABUS) traded up 0.6911% on Friday, hitting $3.9773. 100,437 shares of the stock traded hands. The stock’s market cap is $217.94 million. Arbutus Biopharma Corp. has a 52 week low of $2.72 and a 52 week high of $7.49. The firm’s 50 day moving average is $3.80 and its 200 day moving average is $4.06.

Arbutus Biopharma Corp. (NASDAQ:ABUS) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.36. Arbutus Biopharma Corp. had a negative return on equity of 8.87% and a negative net margin of 1,017.01%. Equities analysts anticipate that Arbutus Biopharma Corp. will post ($3.35) earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. K2 Principal Fund L.P. boosted its stake in shares of Arbutus Biopharma Corp. by 113.6% in the second quarter. K2 Principal Fund L.P. now owns 63,550 shares of the biopharmaceutical company’s stock worth $221,000 after buying an additional 33,796 shares in the last quarter. AXA boosted its stake in shares of Arbutus Biopharma Corp. by 1.4% in the second quarter. AXA now owns 792,358 shares of the biopharmaceutical company’s stock worth $2,757,000 after buying an additional 11,062 shares in the last quarter. Suffolk Capital Management LLC boosted its stake in shares of Arbutus Biopharma Corp. by 7.6% in the second quarter. Suffolk Capital Management LLC now owns 441,915 shares of the biopharmaceutical company’s stock worth $1,538,000 after buying an additional 31,023 shares in the last quarter. I.G. Investment Management LTD. purchased a new stake in shares of Arbutus Biopharma Corp. during the second quarter worth approximately $870,000. Finally, Bank of Montreal Can purchased a new stake in shares of Arbutus Biopharma Corp. during the second quarter worth approximately $2,822,000. Hedge funds and other institutional investors own 31.87% of the company’s stock.

Arbutus Biopharma Corp. Company Profile

Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).

5 Day Chart for NASDAQ:ABUS

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