Arbutus Biopharma (NASDAQ:ABUS) Issues Quarterly Earnings Results, Beats Estimates By $0.32 EPS

Arbutus Biopharma (NASDAQ:ABUS) issued its quarterly earnings data on Tuesday. The biopharmaceutical company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.32, FiscalAI reports. Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The firm had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.00 million.

Arbutus Biopharma Stock Performance

Arbutus Biopharma stock traded up $0.15 during mid-day trading on Tuesday, reaching $3.87. The company’s stock had a trading volume of 356,616 shares, compared to its average volume of 2,930,970. Arbutus Biopharma has a 12 month low of $3.50 and a 12 month high of $5.45. The business’s 50 day simple moving average is $4.55 and its 200 day simple moving average is $4.48. The company has a market capitalization of $765.89 million, a price-to-earnings ratio of 4.89 and a beta of 0.84.

Analyst Upgrades and Downgrades

ABUS has been the subject of several recent research reports. Wall Street Zen cut shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Arbutus Biopharma has a consensus rating of “Moderate Buy” and an average price target of $5.00.

Arbutus Biopharma announced that its board has approved a stock buyback plan on Friday, August 21st that permits the company to buy back outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Arbutus Biopharma Company Profile

Arbutus Biopharma is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection. Its research programs include RNA interference (RNAi) therapies, immune-based treatments and capsid assembly inhibitors, which target different aspects of the virus and the body’s response to infection.

The company’s investigational portfolio includes imdusiran, an RNAi therapeutic designed to reduce hepatitis B surface antigen, as well as other HBV drug candidates at various stages of development.