B.Riley Financial analyst Mayank Mamtani reiterated a Buy rating on Arbutus Biopharma (ABUS) today and set a price target of $8.00. The company’s shares closed last Monday at $3.86.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 25.8% and a 52.3% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Madrigal Pharmaceuticals, and Spectrum Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arbutus Biopharma with a $6.50 average price target, which is a 63.3% upside from current levels. In a report issued on November 10, 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 September 30, the company reported a quarterly revenue of $1.52 million and GAAP net loss of $18.76 million. In comparison, last year the company earned revenue of $3.06 million and had a GAAP net loss of $82.5 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.
