Arbutus Biopharma (NASDAQ:ABUS) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a sell rating to a hold rating in a research note released on Monday morning, Zacks.com reports.

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. “

Other equities research analysts have also issued reports about the company. Chardan Capital lowered Arbutus Biopharma from a buy rating to a neutral rating in a research report on Friday, October 4th. B. Riley increased their target price on Arbutus Biopharma from $3.00 to $6.00 and gave the stock a buy rating in a research report on Thursday, January 9th. ValuEngine raised Arbutus Biopharma from a hold rating to a buy rating in a research report on Friday, January 3rd. Finally, Echelon Wealth Partners lowered Arbutus Biopharma from a hold rating to a sell rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $4.25.

ABUS stock opened at $2.95 on Monday. The company has a current ratio of 10.70, a quick ratio of 10.70 and a debt-to-equity ratio of 0.10. The firm has a market cap of $183.22 million, a P/E ratio of -2.89 and a beta of 1.99. Arbutus Biopharma has a 12-month low of $0.82 and a 12-month high of $4.75. The stock’s 50 day simple moving average is $2.48 and its 200 day simple moving average is $1.78.

Arbutus Biopharma (NASDAQ:ABUS) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.22). Arbutus Biopharma had a negative return on equity of 298.87% and a negative net margin of 2,416.39%. The company had revenue of $3.10 million during the quarter, compared to analyst estimates of $9.85 million. On average, research analysts forecast that Arbutus Biopharma will post -1.22 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley grew its stake in shares of Arbutus Biopharma by 66.7% in the second quarter. Morgan Stanley now owns 1,609,886 shares of the biopharmaceutical company’s stock worth $3,349,000 after purchasing an additional 643,955 shares in the last quarter. Millennium Management LLC boosted its stake in Arbutus Biopharma by 75.1% during the third quarter. Millennium Management LLC now owns 356,066 shares of the biopharmaceutical company’s stock valued at $543,000 after buying an additional 152,714 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Arbutus Biopharma by 710.8% during the third quarter. Tower Research Capital LLC TRC now owns 38,789 shares of the biopharmaceutical company’s stock valued at $59,000 after buying an additional 34,005 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Arbutus Biopharma by 40.4% during the second quarter. Jacobs Levy Equity Management Inc. now owns 30,593 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 8,797 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Arbutus Biopharma during the second quarter valued at about $348,000. 30.75% of the stock is currently owned by hedge funds and other institutional investors.

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. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.

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