Chardan Capital Reiterates Their Buy Rating on Arbutus Biopharma (ABUS)
In a report released today, Keay Nakae from Chardan Capital reiterated a Buy rating on Arbutus Biopharma (ABUS), with a price target of $5.00. The company’s shares closed last Friday at $3.80.
According to TipRanks.com, Nakae is a 5-star analyst with an average return of 12.9% and a 49.2% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Lineage Cell Therapeutics, and Emergent Biosolutions.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Arbutus Biopharma with a $6.25 average price target, representing a 59.8% upside. In a report issued on July 27, JMP Securities also initiated coverage with a Buy rating on the stock with a $8.00 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 $679K and had a GAAP net loss of $23.25 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.