Zacks Investment Research Upgrades Arbutus Biopharma (NASDAQ:ABUS) to Buy

Zacks Investment Research upgraded shares of Arbutus Biopharma (NASDAQ:ABUSGet Rating) from a hold rating to a buy rating in a research report report published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $2.75 price objective on the biopharmaceutical company’s stock.

According to Zacks, “Arbutus Biopharma Corporation is a biopharmaceutical company which is focused on discovering, developing and commercializing a portfolio of drug candidates for chronic hepatitis B infection. The Company’s products include TKM-HBV, Cyclophilin Inhibitor-OCB-030, TLR9 Agonist (CYT-003), Capsid Assembly Inhibitors, Surface Antigen Secretion Inhibitors, STING Agonists, cccDNA Formation Inhibitors, cccDNA Epigenetic Modifiers, TKM-PLK1, GI-NET and ACC, HCC, TKM-Ebola, TKM-Ebola-Guinea, TKM-Marburg, TKM-HTG and TKM-ALDH which are in different clinical trial stage. Arbutus Biopharma Corp, formerly known as Tekmira Pharmaceuticals Corporation, is headquartered in Vancouver, BC. “

Several other brokerages have also recently issued reports on ABUS. StockNews.com initiated coverage on Arbutus Biopharma in a research report on Thursday, March 31st. They set a hold rating on the stock. Chardan Capital increased their price objective on Arbutus Biopharma from $5.50 to $6.00 and gave the company a buy rating in a report on Friday, March 4th. HC Wainwright increased their price objective on Arbutus Biopharma from $8.00 to $8.50 and gave the company a buy rating in a report on Monday, March 14th. Finally, Jefferies Financial Group upgraded Arbutus Biopharma from a hold rating to a buy rating and increased their price objective for the company from $4.00 to $5.00 in a report on Wednesday, February 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Arbutus Biopharma currently has an average rating of Buy and an average price target of $6.25.

Shares of NASDAQ ABUS opened at $2.42 on Tuesday. The stock has a market capitalization of $359.92 million, a PE ratio of -2.92 and a beta of 2.66. The stock’s fifty day simple moving average is $2.86 and its two-hundred day simple moving average is $3.29. Arbutus Biopharma has a 12-month low of $2.26 and a 12-month high of $6.50.

Arbutus Biopharma (NASDAQ:ABUSGet Rating) last announced its earnings results on Thursday, March 3rd. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The business had revenue of $3.21 million for the quarter, compared to analysts’ expectations of $3.39 million. Arbutus Biopharma had a negative return on equity of 676.58% and a negative net margin of 693.91%. During the same quarter last year, the firm earned ($0.23) EPS. As a group, analysts forecast that Arbutus Biopharma will post -0.56 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in Arbutus Biopharma by 2,347.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,121,406 shares of the biopharmaceutical company’s stock worth $6,322,000 after acquiring an additional 2,034,737 shares during the last quarter. BlackRock Inc. raised its stake in Arbutus Biopharma by 3.9% in the 4th quarter. BlackRock Inc. now owns 6,166,349 shares of the biopharmaceutical company’s stock worth $23,986,000 after acquiring an additional 231,146 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Arbutus Biopharma by 141.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 693,271 shares of the biopharmaceutical company’s stock worth $2,697,000 after acquiring an additional 406,635 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new position in Arbutus Biopharma in the 4th quarter worth $53,000. Finally, Kepos Capital LP purchased a new position in Arbutus Biopharma in the 4th quarter worth $778,000. Institutional investors own 26.66% of the company’s stock.

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.

See Also

Get a free copy of the Zacks research report on Arbutus Biopharma (ABUS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Arbutus Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arbutus Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.