Zacks: Analysts Expect Arbutus Biopharma Co. (NASDAQ:ABUS) Will Announce Quarterly Sales of $3.39 Million

Brokerages expect Arbutus Biopharma Co. (NASDAQ:ABUS) to report sales of $3.39 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Arbutus Biopharma’s earnings. The highest sales estimate is $3.47 million and the lowest is $3.30 million. Arbutus Biopharma posted sales of $2.39 million during the same quarter last year, which suggests a positive year over year growth rate of 41.8%. The company is scheduled to report its next quarterly earnings results on Thursday, March 3rd.

On average, analysts expect that Arbutus Biopharma will report full-year sales of $10.82 million for the current fiscal year, with estimates ranging from $10.10 million to $11.26 million. For the next fiscal year, analysts anticipate that the firm will post sales of $14.08 million, with estimates ranging from $13.40 million to $15.34 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Arbutus Biopharma.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Thursday, November 4th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, meeting the consensus estimate of ($0.24). The firm had revenue of $3.34 million during the quarter, compared to analyst estimates of $2.36 million. During the same period in the prior year, the firm earned ($0.27) earnings per share.

A number of brokerages have recently commented on ABUS. HC Wainwright lowered their price objective on Arbutus Biopharma from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 8th. Chardan Capital reissued a “buy” rating on shares of Arbutus Biopharma in a research report on Thursday, November 4th. JMP Securities upped their price target on Arbutus Biopharma from $7.00 to $9.00 and gave the company a “market outperform” rating in a report on Monday, November 8th. Finally, Zacks Investment Research downgraded Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Thursday, November 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $6.60.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Buckingham Strategic Wealth LLC purchased a new stake in shares of Arbutus Biopharma during the second quarter worth approximately $36,000. Sargent Investment Group LLC purchased a new stake in shares of Arbutus Biopharma during the second quarter worth approximately $37,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Arbutus Biopharma during the first quarter worth approximately $42,000. Russell Investments Group Ltd. purchased a new stake in shares of Arbutus Biopharma during the second quarter worth approximately $39,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of Arbutus Biopharma during the second quarter worth approximately $43,000. Institutional investors own 68.33% of the company’s stock.

Shares of Arbutus Biopharma stock traded up $0.07 on Friday, reaching $3.19. 720,622 shares of the company were exchanged, compared to its average volume of 2,098,755. Arbutus Biopharma has a 1-year low of $2.43 and a 1-year high of $5.87. The company has a market cap of $431.51 million, a P/E ratio of -3.51 and a beta of 2.55. The stock’s 50 day moving average price is $3.95 and its 200-day moving average price is $3.35.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corp. is a biopharmaceutical company. It engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company was founded in 2007 and is headquartered in Warminster, PA.

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

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