Arbutus Biopharma Corp (ABUS) Expected to Announce Quarterly Sales of $770,000.00

Equities research analysts expect that Arbutus Biopharma Corp (NASDAQ:ABUS) will report sales of $770,000.00 for the current quarter, Zacks reports. Two analysts have made estimates for Arbutus Biopharma’s earnings. The highest sales estimate is $1.18 million and the lowest is $360,000.00. Arbutus Biopharma posted sales of $2.50 million in the same quarter last year, which suggests a negative year over year growth rate of 69.2%. The firm is expected to report its next earnings report on Wednesday, March 13th.

According to Zacks, analysts expect that Arbutus Biopharma will report full year sales of $5.04 million for the current fiscal year, with estimates ranging from $4.63 million to $5.38 million. For the next fiscal year, analysts forecast that the business will post sales of $4.24 million, with estimates ranging from $2.19 million to $7.30 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Arbutus Biopharma.

Arbutus Biopharma (NASDAQ:ABUS) last announced its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.13). Arbutus Biopharma had a negative net margin of 1,116.69% and a negative return on equity of 91.36%. The firm had revenue of $1.59 million during the quarter, compared to analyst estimates of $0.23 million.

ABUS has been the subject of several analyst reports. Zacks Investment Research raised shares of Arbutus Biopharma from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Thursday, November 15th. Wedbush raised shares of Arbutus Biopharma from an “underperform” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Monday, October 15th. They noted that the move was a valuation call. ValuEngine downgraded shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, December 1st. Chardan Capital cut their target price on shares of Arbutus Biopharma from $12.00 to $6.50 and set a “buy” rating for the company in a research note on Friday, October 12th. Finally, BidaskClub downgraded shares of Arbutus Biopharma from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 11th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Arbutus Biopharma presently has an average rating of “Hold” and an average target price of $6.19.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA increased its stake in shares of Arbutus Biopharma by 1.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,070,400 shares of the biopharmaceutical company’s stock valued at $38,465,000 after acquiring an additional 70,000 shares during the last quarter. Foresite Capital Management IV LLC increased its stake in shares of Arbutus Biopharma by 0.9% during the 3rd quarter. Foresite Capital Management IV LLC now owns 2,676,825 shares of the biopharmaceutical company’s stock valued at $25,296,000 after acquiring an additional 25,000 shares during the last quarter. BlackRock Inc. increased its stake in shares of Arbutus Biopharma by 1.3% during the 3rd quarter. BlackRock Inc. now owns 2,422,221 shares of the biopharmaceutical company’s stock valued at $22,891,000 after acquiring an additional 31,078 shares during the last quarter. EcoR1 Capital LLC acquired a new position in shares of Arbutus Biopharma during the 3rd quarter valued at about $11,641,000. Finally, Morgan Stanley increased its stake in shares of Arbutus Biopharma by 39.4% during the 3rd quarter. Morgan Stanley now owns 1,025,353 shares of the biopharmaceutical company’s stock valued at $9,690,000 after acquiring an additional 289,556 shares during the last quarter. 42.59% of the stock is owned by institutional investors.

ABUS stock traded down $0.15 during trading on Friday, hitting $3.54. The stock had a trading volume of 5,472 shares, compared to its average volume of 206,532. Arbutus Biopharma has a 1-year low of $3.20 and a 1-year high of $12.60. The company has a market capitalization of $204.71 million, a price-to-earnings ratio of -1.98 and a beta of 1.62. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.01.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of a cure for patients suffering from chronic Hepatitis B virus (HBV) infection in Canada and the United States. It also develops a pipeline of products based on RNA interference therapeutics (RNAi).

Further Reading: Discover Your Risk Tolerance

Get a free copy of the Zacks research report on Arbutus Biopharma (ABUS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Arbutus Biopharma (NASDAQ:ABUS)

Receive News & Ratings for Arbutus Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arbutus Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply