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 Friday at $2.85.
According to TipRanks.com, Mamtani is a 5-star analyst with an average return of 23.6% and a 51.0% 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 Strong Buy analyst consensus rating for Arbutus Biopharma with a $6.50 average 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.
