Equities analysts forecast that Arbutus Biopharma Corp (NASDAQ:ABUS) will announce earnings per share (EPS) of ($0.46) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Arbutus Biopharma’s earnings, with estimates ranging from ($0.57) to ($0.37). Arbutus Biopharma reported earnings of ($0.90) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 48.9%. The firm is scheduled to announce its next earnings report on Wednesday, March 13th.
According to Zacks, analysts expect that Arbutus Biopharma will report full year earnings of ($1.18) per share for the current year, with EPS estimates ranging from ($1.24) to ($1.09). For the next year, analysts forecast that the firm will report earnings of ($1.58) per share, with EPS estimates ranging from ($1.80) to ($1.35). Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover Arbutus Biopharma.
Arbutus Biopharma (NASDAQ:ABUS) last released its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.13). The company had revenue of $1.59 million for the quarter, compared to analysts’ expectations of $0.23 million. Arbutus Biopharma had a negative return on equity of 75.07% and a negative net margin of 515.00%.
ABUS has been the subject of several research reports. ValuEngine cut shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research cut shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. JMP Securities cut shares of Arbutus Biopharma to a “market perform” rating in a research note on Tuesday, October 9th. Chardan Capital restated a “buy” rating and set a $11.00 price objective on shares of Arbutus Biopharma in a research note on Monday, July 16th. Finally, BidaskClub cut shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $7.63.
In other Arbutus Biopharma news, insider Michael J. Sofia sold 4,250 shares of Arbutus Biopharma stock in a transaction that occurred 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 sale, the insider now directly owns 1,499,153 shares in the company, valued at approximately $14,256,945.03. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. RTW Investments LP lifted its stake in Arbutus Biopharma by 0.3% during the 2nd quarter. RTW Investments LP now owns 5,165,499 shares of the biopharmaceutical company’s stock valued at $37,708,000 after acquiring an additional 13,884 shares during the period. BlackRock Inc. lifted its stake in shares of Arbutus Biopharma by 246.6% in the 2nd quarter. BlackRock Inc. now owns 2,391,143 shares of the biopharmaceutical company’s stock valued at $17,455,000 after purchasing an additional 1,701,237 shares during the period. Bank of Montreal Can acquired a new position in shares of Arbutus Biopharma in the 2nd quarter valued at $6,897,000. EAM Investors LLC acquired a new position in shares of Arbutus Biopharma in the 3rd quarter valued at $3,241,000. Finally, Northern Trust Corp acquired a new position in shares of Arbutus Biopharma in the 2nd quarter valued at $2,164,000. Institutional investors and hedge funds own 39.98% of the company’s stock.
Shares of NASDAQ ABUS opened at $5.40 on Friday. The company has a quick ratio of 13.67, a current ratio of 13.67 and a debt-to-equity ratio of 0.01. Arbutus Biopharma has a 12 month low of $4.01 and a 12 month high of $12.60. The company has a market cap of $263.17 million, a price-to-earnings ratio of -3.02 and a beta of 1.59.
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).
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