$5.77 Million in Sales Expected for Arbutus Biopharma Co. (NASDAQ:ABUS) This Quarter

Brokerages expect that Arbutus Biopharma Co. (NASDAQ:ABUSGet Rating) will post $5.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Arbutus Biopharma’s earnings. The highest sales estimate is $8.33 million and the lowest is $3.20 million. Arbutus Biopharma posted sales of $2.11 million in the same quarter last year, which suggests a positive year over year growth rate of 173.5%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Arbutus Biopharma will report full year sales of $25.55 million for the current year, with estimates ranging from $12.80 million to $34.26 million. For the next financial year, analysts forecast that the firm will report sales of $26.79 million, with estimates ranging from $12.80 million to $37.28 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Arbutus Biopharma.

Arbutus Biopharma (NASDAQ:ABUSGet Rating) last announced its quarterly earnings results on Thursday, March 3rd. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. The company had revenue of $3.21 million for the quarter, compared to analysts’ expectations of $3.39 million. Arbutus Biopharma had a negative net margin of 693.91% and a negative return on equity of 676.58%. During the same quarter in the previous year, the business posted ($0.23) EPS.

Several equities analysts have issued reports on ABUS shares. Chardan Capital upped their target price on shares of Arbutus Biopharma from $5.50 to $6.00 and gave the company a “buy” rating in a research note on Friday, March 4th. StockNews.com started coverage on shares of Arbutus Biopharma in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Jefferies Financial Group upgraded shares of Arbutus Biopharma from a “hold” rating to a “buy” rating and upped their target price for the company from $4.00 to $5.00 in a research note on Wednesday, February 2nd. HC Wainwright upped their target price on shares of Arbutus Biopharma from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, March 14th. Finally, Zacks Investment Research upgraded shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Thursday, March 10th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Arbutus Biopharma currently has an average rating of “Buy” and a consensus price target of $6.50.

Institutional investors and hedge funds have recently modified their holdings of the company. Two Sigma Investments LP lifted its stake in Arbutus Biopharma by 187.7% in the third quarter. Two Sigma Investments LP now owns 730,298 shares of the biopharmaceutical company’s stock worth $3,133,000 after acquiring an additional 476,475 shares during the period. Traynor Capital Management Inc. acquired a new position in shares of Arbutus Biopharma during the fourth quarter valued at about $42,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Arbutus Biopharma during the third quarter valued at about $626,000. Geode Capital Management LLC increased its holdings in Arbutus Biopharma by 19.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,540,431 shares of the biopharmaceutical company’s stock worth $6,608,000 after buying an additional 253,773 shares during the period. Finally, First Quadrant L P CA acquired a new position in Arbutus Biopharma in the 4th quarter worth approximately $294,000. 54.40% of the stock is owned by hedge funds and other institutional investors.

Arbutus Biopharma stock traded down $0.07 during mid-day trading on Monday, reaching $2.75. The stock had a trading volume of 1,810,258 shares, compared to its average volume of 1,507,034. The company has a 50-day moving average price of $3.01 and a two-hundred day moving average price of $3.44. Arbutus Biopharma has a one year low of $2.38 and a one year high of $6.50.

Arbutus Biopharma Company Profile (Get Rating)

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously delivered RNA interference product candidate, which in Phase Ia/Ib clinical trial targeted to hepatocytes that inhibits viral replication and reduces various HBV antigens using novel covalently conjugated N-acetylgalactosamine (GalNAc) delivery technology; and AB-836, an oral capsid inhibitor that suppresses HBV DNA replication.

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Earnings History and Estimates for Arbutus Biopharma (NASDAQ:ABUS)

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