Zacks: Analysts Expect Arbutus Biopharma Corp (NASDAQ:ABUS) Will Post Quarterly Sales of $1.85 Million

Equities analysts expect that Arbutus Biopharma Corp (NASDAQ:ABUS) will announce $1.85 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Arbutus Biopharma’s earnings. The lowest sales estimate is $1.49 million and the highest is $2.20 million. Arbutus Biopharma reported sales of $700,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 164.3%. The company is expected to announce its next earnings report on Monday, August 3rd.

According to Zacks, analysts expect that Arbutus Biopharma will report full-year sales of $7.29 million for the current financial year, with estimates ranging from $5.96 million to $8.90 million. For the next financial year, analysts forecast that the firm will post sales of $11.48 million, with estimates ranging from $6.14 million to $14.70 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Arbutus Biopharma.

Arbutus Biopharma (NASDAQ:ABUS) last posted its earnings results on Monday, May 11th. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.06. Arbutus Biopharma had a negative net margin of 2,091.92% and a negative return on equity of 298.87%. The company had revenue of $1.49 million for the quarter, compared to analyst estimates of $1.81 million.

A number of analysts have issued reports on the company. ValuEngine raised Arbutus Biopharma from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. Robert W. Baird reduced their target price on Arbutus Biopharma from $8.00 to $4.00 and set an “outperform” rating for the company in a report on Friday, March 27th. Zacks Investment Research raised Arbutus Biopharma from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a report on Tuesday, May 5th. B. Riley reissued a “buy” rating and issued a $6.00 target price on shares of Arbutus Biopharma in a report on Tuesday, May 19th. Finally, Chardan Capital reissued a “buy” rating and issued a $5.00 target price on shares of Arbutus Biopharma in a report on Wednesday, May 13th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Arbutus Biopharma has an average rating of “Buy” and a consensus price target of $5.04.

NASDAQ ABUS traded down $0.03 during trading on Friday, reaching $1.89. 36,606 shares of the company’s stock were exchanged, compared to its average volume of 1,172,923. The stock has a market cap of $132.40 million, a P/E ratio of -0.72 and a beta of 2.85. The company has a 50 day moving average price of $2.00 and a two-hundred day moving average price of $2.23. Arbutus Biopharma has a 1 year low of $0.82 and a 1 year high of $3.66.

A number of institutional investors and hedge funds have recently bought and sold shares of ABUS. Cowen AND Company LLC purchased a new stake in Arbutus Biopharma during the 4th quarter valued at approximately $2,575,000. Credit Suisse AG purchased a new stake in Arbutus Biopharma during the 4th quarter valued at approximately $403,000. Oxford Asset Management LLP purchased a new stake in Arbutus Biopharma during the 4th quarter valued at approximately $61,000. UBS Group AG raised its stake in Arbutus Biopharma by 30.7% during the 4th quarter. UBS Group AG now owns 243,218 shares of the biopharmaceutical company’s stock valued at $676,000 after acquiring an additional 57,094 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Arbutus Biopharma during the 4th quarter valued at approximately $5,274,000. 40.69% of the stock is owned by hedge funds and other 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. 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.

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