Wedbush upgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a neutral rating to an outperform rating in a research report released on Tuesday morning, BenzingaRatingsTable reports. Wedbush currently has $4.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $2.00. Wedbush also issued estimates for Arbutus Biopharma’s Q3 2020 earnings at ($0.21) EPS, Q4 2020 earnings at ($0.18) EPS, Q4 2020 earnings at ($0.19) EPS, FY2020 earnings at ($0.86) EPS, FY2020 earnings at ($0.85) EPS, Q1 2021 earnings at ($0.17) EPS, Q1 2021 earnings at ($0.18) EPS, Q2 2021 earnings at ($0.15) EPS, Q3 2021 earnings at ($0.15) EPS, Q4 2021 earnings at ($0.12) EPS, FY2021 earnings at ($0.59) EPS, FY2021 earnings at ($0.60) EPS, FY2022 earnings at ($0.50) EPS, FY2022 earnings at ($0.49) EPS, FY2023 earnings at ($0.50) EPS, FY2023 earnings at ($0.51) EPS, FY2024 earnings at ($0.53) EPS and FY2024 earnings at ($0.52) EPS.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Arbutus Biopharma from a hold rating to a buy rating and set a $1.25 target price for the company in a research note on Tuesday, May 5th. ValuEngine upgraded Arbutus Biopharma from a hold rating to a buy rating in a research note on Thursday, April 2nd. B. Riley reiterated a buy rating and set a $6.00 price target on shares of Arbutus Biopharma in a research note on Tuesday. Chardan Capital reiterated a buy rating and set a $5.00 price target on shares of Arbutus Biopharma in a research note on Wednesday, May 13th. Finally, Robert W. Baird cut their price target on Arbutus Biopharma from $8.00 to $4.00 and set an outperform rating for the company in a research note on Friday, March 27th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Arbutus Biopharma presently has an average rating of Buy and a consensus target price of $5.04.

Shares of ABUS opened at $2.29 on Tuesday. The stock has a 50-day moving average of $1.33 and a 200-day moving average of $2.16. The company has a market cap of $161.37 million, a PE ratio of -0.86 and a beta of 2.58. Arbutus Biopharma has a one year low of $0.82 and a one year high of $3.66.

Arbutus Biopharma (NASDAQ:ABUS) last issued its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. The company had revenue of $1.49 million during the quarter, compared to the consensus estimate of $1.81 million. Arbutus Biopharma had a negative return on equity of 298.87% and a negative net margin of 2,091.92%. Equities research analysts predict that Arbutus Biopharma will post -0.87 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Holdings Inc. purchased a new position in shares of Arbutus Biopharma in the 1st quarter worth approximately $1,793,000. Squarepoint Ops LLC purchased a new position in shares of Arbutus Biopharma in the 1st quarter worth approximately $43,000. Jane Street Group LLC purchased a new position in shares of Arbutus Biopharma in the 1st quarter worth approximately $73,000. Morgan Stanley boosted its stake in shares of Arbutus Biopharma by 9.4% in the 1st quarter. Morgan Stanley now owns 2,047,008 shares of the biopharmaceutical company’s stock worth $2,067,000 after buying an additional 175,920 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Arbutus Biopharma by 133.8% in the 1st quarter. Two Sigma Investments LP now owns 212,400 shares of the biopharmaceutical company’s stock worth $215,000 after buying an additional 121,536 shares during the last quarter. Hedge funds and other institutional investors own 35.64% of the company’s stock.

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. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.

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Analyst Recommendations for Arbutus Biopharma (NASDAQ:ABUS)

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