FY2018 EPS Estimates for Arbutus Biopharma Corp (ABUS) Lifted by Analyst
Arbutus Biopharma Corp (NASDAQ:ABUS) – Wedbush raised their FY2018 earnings per share estimates for Arbutus Biopharma in a research report issued on Monday, November 12th. Wedbush analyst R. Driscoll now forecasts that the biopharmaceutical company will post earnings of ($1.49) per share for the year, up from their previous estimate of ($1.54). Wedbush has a “Neutral” rating and a $5.00 price objective on the stock. Wedbush also issued estimates for Arbutus Biopharma’s Q4 2018 earnings at ($0.39) EPS, FY2019 earnings at ($1.57) EPS, FY2020 earnings at ($1.41) EPS, FY2021 earnings at ($1.20) EPS and FY2022 earnings at ($0.96) EPS.
Several other equities research analysts also recently issued reports on the stock. B. Riley raised shares of Arbutus Biopharma from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $11.50 to $9.00 in a research note on Tuesday, October 16th. Zacks Investment Research downgraded shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. ValuEngine downgraded shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. JMP Securities downgraded shares of Arbutus Biopharma to a “market perform” rating in a research note on Tuesday, October 9th. Finally, BidaskClub downgraded shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $6.38.
Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.13). Arbutus Biopharma had a negative return on equity of 91.36% and a negative net margin of 1,116.69%. The firm had revenue of $1.59 million for the quarter, compared to analysts’ expectations of $0.23 million.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new stake in shares of Arbutus Biopharma in the 2nd quarter worth about $6,897,000. Rhumbline Advisers bought a new stake in shares of Arbutus Biopharma in the 2nd quarter worth about $243,000. BlackRock Inc. increased its position in shares of Arbutus Biopharma by 246.6% in the 2nd quarter. BlackRock Inc. now owns 2,391,143 shares of the biopharmaceutical company’s stock worth $17,455,000 after purchasing an additional 1,701,237 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in shares of Arbutus Biopharma in the 2nd quarter worth about $482,000. Finally, RTW Investments LP increased its position in shares of Arbutus Biopharma by 0.3% in the 2nd quarter. RTW Investments LP now owns 5,165,499 shares of the biopharmaceutical company’s stock worth $37,708,000 after purchasing an additional 13,884 shares during the last quarter. 40.23% of the stock is owned by institutional investors.
Arbutus Biopharma Company Profile
Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. It also develops a pipeline of products based on RNA interference therapeutics (RNAi).
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