Arbutus Biopharma (NASDAQ:ABUS) Given New $5.00 Price Target at JMP Securities

Arbutus Biopharma (NASDAQ:ABUS) had its price objective increased by JMP Securities from $4.00 to $5.00 in a research note published on Friday, Benzinga reports. JMP Securities currently has a market outperform rating on the biopharmaceutical company’s stock.

A number of other brokerages have also recently issued reports on ABUS. HC Wainwright reissued a buy rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research note on Thursday, June 6th. Chardan Capital reaffirmed a buy rating and set a $4.00 target price on shares of Arbutus Biopharma in a research note on Wednesday, June 5th.

Arbutus Biopharma Price Performance

Shares of NASDAQ:ABUS opened at $3.62 on Friday. The company’s 50 day simple moving average is $3.39 and its 200 day simple moving average is $2.97. The stock has a market capitalization of $683.17 million, a price-to-earnings ratio of -7.77 and a beta of 1.96. Arbutus Biopharma has a 1 year low of $1.69 and a 1 year high of $3.98.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $1.73 million during the quarter, compared to the consensus estimate of $1.54 million. Arbutus Biopharma had a negative net margin of 766.20% and a negative return on equity of 68.02%. During the same period last year, the business earned ($0.10) earnings per share. As a group, analysts anticipate that Arbutus Biopharma will post -0.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Arbutus Biopharma

Hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in shares of Arbutus Biopharma during the second quarter worth $34,000. Walleye Trading LLC acquired a new position in shares of Arbutus Biopharma during the first quarter worth $36,000. PFG Investments LLC acquired a new position in shares of Arbutus Biopharma during the first quarter worth $50,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Arbutus Biopharma by 351.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,400 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 15,104 shares during the period. Finally, Premier Path Wealth Partners LLC lifted its holdings in shares of Arbutus Biopharma by 37.4% during the first quarter. Premier Path Wealth Partners LLC now owns 30,500 shares of the biopharmaceutical company’s stock worth $79,000 after purchasing an additional 8,300 shares during the period. Institutional investors and hedge funds own 43.79% of the company’s stock.

About Arbutus Biopharma

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.