Chardan Capital Reaffirms “Buy” Rating for Arbutus Biopharma (NASDAQ:ABUS)

Arbutus Biopharma (NASDAQ:ABUS)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a research note issued on Friday,Benzinga reports. They presently have a $5.00 price objective on the biopharmaceutical company’s stock. Chardan Capital’s target price would indicate a potential upside of 52.91% from the company’s current price. Chardan Capital also issued estimates for Arbutus Biopharma’s FY2025 earnings at ($0.30) EPS.

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded Arbutus Biopharma from a “hold” rating to a “sell” rating in a research report on Thursday, March 13th. HC Wainwright reiterated a “buy” rating and issued a $5.00 price objective on shares of Arbutus Biopharma in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.50.

Arbutus Biopharma Stock Down 2.4 %

Shares of ABUS stock opened at $3.27 on Friday. Arbutus Biopharma has a 12 month low of $2.30 and a 12 month high of $4.73. The firm has a market cap of $619.64 million, a PE ratio of -7.60 and a beta of 1.93. The stock has a 50 day moving average of $3.33 and a 200-day moving average of $3.58.

Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Thursday, March 27th. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. The firm had revenue of $1.57 million during the quarter, compared to analysts’ expectations of $2.20 million. Arbutus Biopharma had a negative net margin of 1,137.65% and a negative return on equity of 68.18%. As a group, equities analysts predict that Arbutus Biopharma will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Arbutus Biopharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its holdings in shares of Arbutus Biopharma by 5.7% in the 4th quarter. Invesco Ltd. now owns 69,831 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 3,780 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Arbutus Biopharma by 10.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 40,179 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 3,870 shares in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of Arbutus Biopharma by 6.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 79,761 shares of the biopharmaceutical company’s stock valued at $261,000 after acquiring an additional 5,000 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Arbutus Biopharma by 18.7% in the 4th quarter. Teacher Retirement System of Texas now owns 42,144 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 6,644 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Arbutus Biopharma by 10.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 89,397 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 8,308 shares during the last quarter. 43.79% of the stock is owned by institutional investors and hedge funds.

Arbutus Biopharma Company Profile

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.