Arbutus Biopharma (NASDAQ:ABUS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Arbutus Biopharma (NASDAQ:ABUS) from a buy rating to a hold rating in a report issued on Monday, Zacks.com reports.

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. “

ABUS has been the topic of several other reports. ValuEngine upgraded shares of Arbutus Biopharma from a sell rating to a hold rating in a research report on Thursday, August 1st. Chardan Capital reiterated a buy rating and set a $5.00 target price on shares of Arbutus Biopharma in a research report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Arbutus Biopharma has a consensus rating of Hold and a consensus target price of $5.19.



ABUS opened at $1.47 on Monday. The firm has a 50 day moving average of $1.94. Arbutus Biopharma has a 1-year low of $1.42 and a 1-year high of $11.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 11.32 and a current ratio of 11.32.

Arbutus Biopharma (NASDAQ:ABUS) last posted its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.11). Arbutus Biopharma had a negative net margin of 1,948.40% and a negative return on equity of 125.64%. The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.88 million. On average, analysts expect that Arbutus Biopharma will post -1.41 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Bailard Inc. boosted its position in Arbutus Biopharma by 5.6% during the 1st quarter. Bailard Inc. now owns 228,000 shares of the biopharmaceutical company’s stock worth $816,000 after buying an additional 12,000 shares during the period. Norges Bank acquired a new stake in Arbutus Biopharma during the 4th quarter worth approximately $1,416,000. Alps Advisors Inc. boosted its position in Arbutus Biopharma by 4.7% during the 1st quarter. Alps Advisors Inc. now owns 134,053 shares of the biopharmaceutical company’s stock worth $480,000 after buying an additional 6,016 shares during the period. Geode Capital Management LLC boosted its position in Arbutus Biopharma by 27.7% during the 4th quarter. Geode Capital Management LLC now owns 235,932 shares of the biopharmaceutical company’s stock worth $903,000 after buying an additional 51,127 shares during the period. Finally, Bank of Montreal Can boosted its position in Arbutus Biopharma by 1.2% during the 1st quarter. Bank of Montreal Can now owns 979,124 shares of the biopharmaceutical company’s stock worth $3,505,000 after buying an additional 11,520 shares during the period. Institutional investors and hedge funds own 42.21% of the company’s stock.

Arbutus Biopharma Company Profile

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. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.

See Also: Capital Gains Distribution

Get a free copy of the Zacks research report on Arbutus Biopharma (ABUS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Arbutus Biopharma (NASDAQ:ABUS)

Receive News & Ratings for Arbutus Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arbutus Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.