Arbutus Biopharma (NASDAQ:ABUS) Downgraded to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Arbutus Biopharma (NASDAQ:ABUS) from a buy rating to a hold rating in a report published 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. “

A number of other equities analysts have also recently commented on ABUS. Chardan Capital reissued a buy rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Tuesday, July 16th. ValuEngine raised Arbutus Biopharma from a sell rating to a hold rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $5.19.

Arbutus Biopharma stock opened at $1.42 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.32 and a quick ratio of 11.32. Arbutus Biopharma has a 52 week low of $1.38 and a 52 week high of $11.25. The stock has a fifty day moving average of $1.93 and a 200-day moving average of $2.80.

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

Several institutional investors have recently bought and sold shares of the company. Morgan Stanley increased its holdings in Arbutus Biopharma by 66.7% in the 2nd quarter. Morgan Stanley now owns 1,609,886 shares of the biopharmaceutical company’s stock worth $3,349,000 after purchasing an additional 643,955 shares in the last quarter. Jennison Associates LLC acquired a new position in Arbutus Biopharma in the 2nd quarter worth about $1,306,000. Norges Bank acquired a new position in Arbutus Biopharma in the 4th quarter worth about $1,416,000. Jane Street Group LLC acquired a new position in Arbutus Biopharma in the 2nd quarter worth about $348,000. Finally, Paloma Partners Management Co acquired a new position in Arbutus Biopharma in the 2nd quarter worth about $327,000. 42.21% of the stock is owned by institutional investors.

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.

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