Chardan Capital Thinks Arbutus Biopharma Corporation’s Stock is Going to Recover
Chardan Capital analyst Keay Nakae maintained a Buy rating on Arbutus Biopharma Corporation (NASDAQ: ABUS) today and set a price target of $6.50. The company’s shares opened today at $4.31, close to its 52-week low of $4.06.
According to TipRanks.com, Nakae has currently no stars on a ranking scale of 0-5 stars, with an average return of -11.2% and a 27.8% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Arcturus Therapeutics Ltd, Arrowhead Research, and Dicerna Pharma.
Currently, the analyst consensus on Arbutus Biopharma Corporation is a Hold with an average price target of $7.67.
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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 $11.6 million.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is negative on the stock.
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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.