Arbutus Biopharma Corp (ABUS) Receives $13.80 Consensus Target Price from Analysts
Arbutus Biopharma Corp (NASDAQ:ABUS) has received a consensus recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $13.80.
ABUS has been the topic of a number of analyst reports. ValuEngine downgraded shares of Arbutus Biopharma from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Zacks Investment Research cut Arbutus Biopharma from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. BidaskClub cut Arbutus Biopharma from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. JMP Securities reiterated an “outperform” rating and set a $13.00 target price (up from $12.00) on shares of Arbutus Biopharma in a research note on Wednesday, October 4th. Finally, Leerink Swann reiterated a “market perform” rating and set a $5.00 target price (up from $4.00) on shares of Arbutus Biopharma in a research note on Tuesday, November 7th.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Arbutus Biopharma by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 77,413 shares of the biopharmaceutical company’s stock valued at $279,000 after acquiring an additional 2,035 shares during the period. OxFORD Asset Management LLP raised its stake in Arbutus Biopharma by 89.9% in the 2nd quarter. OxFORD Asset Management LLP now owns 83,310 shares of the biopharmaceutical company’s stock valued at $300,000 after acquiring an additional 39,436 shares during the period. Point72 Asset Management L.P. bought a new stake in Arbutus Biopharma in the 3rd quarter valued at about $1,393,000. Finally, RTW Investments LP raised its stake in Arbutus Biopharma by 1.1% in the 3rd quarter. RTW Investments LP now owns 5,266,280 shares of the biopharmaceutical company’s stock valued at $32,651,000 after acquiring an additional 56,457 shares during the period. Institutional investors and hedge funds own 59.99% of the company’s stock.
Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.21. sell-side analysts forecast that Arbutus Biopharma will post -1.29 EPS for the current fiscal year.
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About Arbutus Biopharma
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).
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