B.Riley FBR analyst Mayank Mamtani reiterated a Buy rating on Arbutus Biopharma (ABUS) today and set a price target of $6.00. The company’s shares closed last Monday at $2.26.
According to TipRanks.com, Mamtani has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.8% and a 25.7% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals, Arrowhead Pharmaceuticals, and Spectrum Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arbutus Biopharma with a $5.50 average price target, implying a 147.7% upside from current levels. In a report released today, 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 December 31, the company reported a quarterly revenue of $1.62 million and GAAP net loss of $24.65 million. In comparison, last year the company earned revenue of $1.68 million and had a GAAP net loss of $18.25 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.
