B. Riley Upgrades Arbutus Biopharma (ABUS) to “Buy”

B. Riley upgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a neutral rating to a buy rating in a research report released on Tuesday, MarketBeat reports. B. Riley currently has $9.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $11.50. B. Riley also issued estimates for Arbutus Biopharma’s Q3 2018 earnings at ($0.43) EPS, Q4 2018 earnings at ($0.43) EPS, FY2018 earnings at ($1.66) EPS, Q3 2019 earnings at ($0.34) EPS, FY2019 earnings at ($1.35) EPS, FY2020 earnings at ($1.06) EPS, FY2021 earnings at ($0.78) EPS and FY2022 earnings at ($0.64) EPS.

A number of other research firms also recently issued reports on ABUS. Wedbush raised their price objective on shares of Arbutus Biopharma from $6.00 to $7.00 and gave the stock a hold rating in a report on Monday, August 13th. Chardan Capital restated a buy rating and set a $11.00 price objective on shares of Arbutus Biopharma in a report on Monday, July 16th. Zacks Investment Research downgraded shares of Arbutus Biopharma from a hold rating to a sell rating in a report on Wednesday, August 8th. BidaskClub upgraded shares of Arbutus Biopharma from a buy rating to a strong-buy rating in a report on Thursday, June 21st. Finally, ValuEngine downgraded shares of Arbutus Biopharma from a strong-buy rating to a buy rating in a report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $7.10.

NASDAQ ABUS opened at $4.34 on Tuesday. Arbutus Biopharma has a 52-week low of $4.01 and a 52-week high of $12.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 13.67 and a quick ratio of 13.67. The stock has a market cap of $245.99 million, a P/E ratio of -2.42 and a beta of 0.96.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.09). Arbutus Biopharma had a negative return on equity of 75.07% and a negative net margin of 515.00%. The company had revenue of $1.20 million for the quarter. On average, equities research analysts anticipate that Arbutus Biopharma will post -1.6 EPS for the current year.

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

Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers purchased a new position in shares of Arbutus Biopharma in the second quarter worth about $243,000. Algert Global LLC purchased a new position in shares of Arbutus Biopharma in the second quarter worth about $254,000. Citadel Advisors LLC increased its stake in shares of Arbutus Biopharma by 124.9% in the first quarter. Citadel Advisors LLC now owns 64,797 shares of the biopharmaceutical company’s stock worth $324,000 after purchasing an additional 35,981 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Arbutus Biopharma in the second quarter worth about $482,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Arbutus Biopharma in the second quarter worth about $493,000. 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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