B. Riley Upgrades Arbutus Biopharma (ABUS) to “Buy”

Arbutus Biopharma (NASDAQ:ABUS) was upgraded by equities researchers at B. Riley from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $9.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $11.50. B. Riley’s target price suggests a potential upside of 91.08% from the company’s previous close.

Several other research analysts have also commented on ABUS. BidaskClub raised shares of Arbutus Biopharma from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 21st. Zacks Investment Research raised shares of Arbutus Biopharma from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Monday, July 9th. Chardan Capital reaffirmed a “buy” rating and set a $11.00 price objective on shares of Arbutus Biopharma in a research note on Monday, July 16th. Wedbush lifted their price objective on shares of Arbutus Biopharma from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Monday, August 13th. Finally, JMP Securities lowered shares of Arbutus Biopharma to a “market perform” rating in a research note on Tuesday, October 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $7.10.

Shares of ABUS opened at $4.71 on Tuesday. Arbutus Biopharma has a fifty-two week low of $4.01 and a fifty-two week high of $12.60. The firm has a market capitalization of $523.57 million, a P/E ratio of -2.63 and a beta of 0.96. The company has a current ratio of 13.67, a quick ratio of 13.67 and a debt-to-equity ratio of 0.01.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.09). The business had revenue of $1.20 million during the quarter. Arbutus Biopharma had a negative return on equity of 75.07% and a negative net margin of 515.00%. As a group, analysts anticipate that Arbutus Biopharma will post -1.62 EPS for the current year.

In other Arbutus Biopharma news, insider Michael J. Sofia sold 4,250 shares of Arbutus Biopharma stock in a transaction on Monday, August 13th. The shares were sold at an average price of $9.51, for a total transaction of $40,417.50. Following the completion of the transaction, the insider now directly owns 1,499,153 shares of the company’s stock, valued at $14,256,945.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers purchased a new position in Arbutus Biopharma during the second quarter worth $243,000. Algert Global LLC purchased a new stake in shares of Arbutus Biopharma during the second quarter valued at $254,000. Citadel Advisors LLC boosted its stake in shares of Arbutus Biopharma by 124.9% during the first quarter. Citadel Advisors LLC now owns 64,797 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 35,981 shares during the period. Schwab Charles Investment Management Inc. purchased a new stake in shares of Arbutus Biopharma during the second quarter valued at $482,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Arbutus Biopharma during the second quarter valued at $493,000. 40.05% of the stock is owned by institutional investors.

About Arbutus Biopharma

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. It also develops a pipeline of products based on RNA interference therapeutics (RNAi).

Further Reading: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for Arbutus Biopharma (NASDAQ:ABUS)

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