B.Riley FBR Sticks to Its Buy Rating for Arbutus Biopharma (ABUS)
In a report released today, 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 Monday at $2.92.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 16.5% and a 49.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Spectrum Pharmaceuticals, and Madrigal Pharmaceuticals.
Arbutus Biopharma has an analyst consensus of Strong Buy, with a price target consensus of $6.00, which is a 104.1% upside from current levels. In a report issued on August 28, 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 March 31, the company reported a quarterly revenue of $1.49 million and GAAP net loss of $13.86 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.