Arbutus Biopharma Corporation (ABUS) Stock Rating Upgraded by Zacks Investment Research

Arbutus Biopharma Corporation (NASDAQ:ABUS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

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 analysts also recently issued reports about the stock. Chardan Capital raised shares of Arbutus Biopharma Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.00 to $6.00 in a research note on Tuesday, April 4th. Wedbush reaffirmed an “outperform” rating and set a $10.00 price objective (up from $9.00) on shares of Arbutus Biopharma Corporation in a research note on Wednesday, March 22nd. Finally, Ladenburg Thalmann Financial Services began coverage on shares of Arbutus Biopharma Corporation in a research note on Friday, June 2nd. They set a “buy” rating and a $32.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Arbutus Biopharma Corporation has an average rating of “Buy” and a consensus target price of $10.54.

Shares of Arbutus Biopharma Corporation (NASDAQ ABUS) traded down 5.26% during mid-day trading on Monday, reaching $3.60. The company’s stock had a trading volume of 71,621 shares. The firm’s market cap is $198.09 million. Arbutus Biopharma Corporation has a 12 month low of $2.35 and a 12 month high of $4.49. The company’s 50-day moving average is $3.53 and its 200 day moving average is $3.06.

Arbutus Biopharma Corporation (NASDAQ:ABUS) last issued its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.30) by $0.04. The firm had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $7.50 million. On average, equities analysts anticipate that Arbutus Biopharma Corporation will post ($1.64) EPS for the current year.

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An institutional investor recently raised its position in Arbutus Biopharma Corporation stock. Renaissance Technologies LLC boosted its stake in shares of Arbutus Biopharma Corporation (NASDAQ:ABUS) by 785.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,573 shares of the biopharmaceutical company’s stock after buying an additional 110,499 shares during the period. Renaissance Technologies LLC’s holdings in Arbutus Biopharma Corporation were worth $405,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 66.55% of the company’s stock.

Arbutus Biopharma Corporation Company Profile

Arbutus Biopharma Corporation, formerly Tekmira Pharmaceuticals Corporation, is a therapeutic solutions company. The Company is engaged in discovering, developing and commercializing a cure for patients suffering from chronic hepatitis B infection (HBV), a disease of the liver caused by the hepatitis B virus (HBV).

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