Arbutus Biopharma (ABUS) Receives a Buy from B.Riley FBR
In a report issued on September 16, Mayank Mamtani from B.Riley FBR reiterated a Buy rating on Arbutus Biopharma (ABUS), with a price target of $8.00. The company’s shares closed last Tuesday at $3.03.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 17.6% and a 47.4% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
Currently, the analyst consensus on Arbutus Biopharma is a Strong Buy with an average price target of $6.00, implying a 98.0% upside from current levels. In a report issued on September 15, Chardan Capital also reiterated a Buy rating on the stock with a $5.00 price target.
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Based on Arbutus Biopharma’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.51 million and GAAP net loss of $14.09 million. In comparison, last year the company earned revenue of $653K and had a GAAP net loss of $23.32 million.
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Arbutus Biopharma Corp. engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company is headquartered in Burnaby, Canada.