Jefferies Financial Group Raises Arbutus Biopharma (NASDAQ:ABUS) Price Target to $7.00

Arbutus Biopharma (NASDAQ:ABUS) had its price objective boosted by Jefferies Financial Group from $5.00 to $7.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently commented on ABUS. StockNews.com upgraded shares of Arbutus Biopharma from a sell rating to a hold rating in a research report on Saturday, August 10th. JMP Securities increased their target price on Arbutus Biopharma from $4.00 to $5.00 and gave the stock a market outperform rating in a research note on Friday, August 2nd. Chardan Capital restated a buy rating and issued a $4.00 price target on shares of Arbutus Biopharma in a research note on Wednesday, June 5th. Finally, HC Wainwright reiterated a buy rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research report on Thursday, June 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $5.25.

Arbutus Biopharma Trading Up 0.9 %

Shares of NASDAQ ABUS opened at $4.55 on Thursday. The stock has a market cap of $858.95 million, a P/E ratio of -10.34 and a beta of 1.92. The stock has a 50 day moving average of $3.72 and a two-hundred day moving average of $3.19. Arbutus Biopharma has a twelve month low of $1.69 and a twelve month high of $4.56.

Arbutus Biopharma (NASDAQ:ABUS) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $1.73 million for the quarter, compared to analyst estimates of $1.54 million. Arbutus Biopharma had a negative return on equity of 66.68% and a negative net margin of 766.20%. During the same quarter last year, the company posted ($0.10) EPS. As a group, research analysts predict that Arbutus Biopharma will post -0.38 earnings per share for the current year.

Hedge Funds Weigh In On Arbutus Biopharma

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Arbutus Biopharma by 7.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,323 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 4,191 shares during the last quarter. Premier Path Wealth Partners LLC raised its holdings in shares of Arbutus Biopharma by 18.0% in the second quarter. Premier Path Wealth Partners LLC now owns 36,000 shares of the biopharmaceutical company’s stock worth $111,000 after acquiring an additional 5,500 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Arbutus Biopharma by 22.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 6,649 shares in the last quarter. Verus Capital Partners LLC boosted its stake in shares of Arbutus Biopharma by 30.5% during the first quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 9,800 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Arbutus Biopharma during the 2nd quarter worth about $34,000. 43.79% of the stock is owned by hedge funds and other institutional investors.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.