In a report released today, Madhu Kumar from B.Riley FBR reiterated a Hold rating on Arbutus Biopharma Corporation (NASDAQ: ABUS), with a price target of $9. The company’s shares opened today at $9.50.
Kumar observed:
“Friday 8/3, after market close, Arbutus Biopharma (ABUS) announced 2Q18 earnings and provided a corporate update. While we remain optimistic about Arbutus’ hepatitis B virus (HBV) therapy platform and potential non-dilutive financing from transthyretin (TTR) RNAi drug Pharmaceuticals (ALNY), we await clinical data in HBV patients to improve substantially our ABUS outlook. We thus reiterate our ABUS Neutral rating and $9 price target.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 26.9% and a 47.6% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Clementia Pharmaceuticals Inc, and Deciphera Pharmaceuticals Inc.
Arbutus Biopharma Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $10.
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Based on Arbutus Biopharma Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $3.09 million. In comparison, last year the company had a GAAP net loss of $18.26 million.
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Arbutus Biopharma Corp. is a biopharmaceutical company, engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company was founded on October 6, 2005 and is headquartered in Burnaby, Canada.
