Arbutus Biopharma (ABUS) Rating Lowered to Market Perform at JMP Securities

Arbutus Biopharma (NASDAQ:ABUS) was downgraded by JMP Securities to a “market perform” rating in a research note issued on Tuesday, The Fly reports.

ABUS has been the topic of a number of other research reports. Zacks Investment Research cut shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Chardan Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Arbutus Biopharma in a research report on Monday, July 16th. BidaskClub upgraded shares of Arbutus Biopharma from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 21st. B. Riley lifted their target price on shares of Arbutus Biopharma from $9.00 to $11.50 and gave the stock a “neutral” rating in a research report on Monday, August 13th. Finally, Wedbush cut shares of Arbutus Biopharma from a “neutral” rating to an “underperform” rating and set a $5.00 target price on the stock. in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $8.50.

Shares of NASDAQ:ABUS opened at $4.57 on Tuesday. The firm has a market capitalization of $523.57 million, a P/E ratio of -2.55 and a beta of 0.96. Arbutus Biopharma has a 52 week low of $4.06 and a 52 week high of $12.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.67 and a current ratio of 13.67.

Arbutus Biopharma (NASDAQ:ABUS) last issued its earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.09). The business had revenue of $1.20 million during the quarter. Arbutus Biopharma had a negative return on equity of 75.07% and a negative net margin of 515.00%. As a group, equities analysts forecast that Arbutus Biopharma will post -1.62 earnings per share for the current fiscal year.

In related news, insider Michael J. Sofia sold 4,250 shares of Arbutus Biopharma stock in a transaction on Monday, August 13th. The shares were sold at an average price of $9.51, for a total value of $40,417.50. Following the transaction, the insider now owns 1,499,153 shares in the company, valued at approximately $14,256,945.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.60% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in ABUS. BlackRock Inc. increased its position in shares of Arbutus Biopharma by 246.6% in the second quarter. BlackRock Inc. now owns 2,391,143 shares of the biopharmaceutical company’s stock valued at $17,455,000 after acquiring an additional 1,701,237 shares during the period. Bank of Montreal Can purchased a new position in shares of Arbutus Biopharma in the second quarter valued at about $6,897,000. Northern Trust Corp purchased a new position in shares of Arbutus Biopharma in the second quarter valued at about $2,164,000. Bank of New York Mellon Corp purchased a new position in shares of Arbutus Biopharma in the second quarter valued at about $609,000. Finally, Millennium Management LLC increased its position in shares of Arbutus Biopharma by 559.4% in the second quarter. Millennium Management LLC now owns 87,089 shares of the biopharmaceutical company’s stock valued at $636,000 after acquiring an additional 73,882 shares during the period. Hedge funds and other institutional investors own 40.05% 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. It also develops a pipeline of products based on RNA interference therapeutics (RNAi).

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Analyst Recommendations for Arbutus Biopharma (NASDAQ:ABUS)

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