HC Wainwright Has Negative Forecast for ABUS FY2024 Earnings

Arbutus Biopharma Co. (NASDAQ:ABUS - Free Report) - Analysts at HC Wainwright dropped their FY2024 EPS estimates for Arbutus Biopharma in a research report issued on Thursday, November 7th. HC Wainwright analyst E. Arce now expects that the biopharmaceutical company will post earnings of ($0.40) per share for the year, down from their previous forecast of ($0.38). HC Wainwright currently has a "Buy" rating and a $5.00 target price on the stock. The consensus estimate for Arbutus Biopharma's current full-year earnings is ($0.38) per share. HC Wainwright also issued estimates for Arbutus Biopharma's Q4 2024 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.11) EPS, FY2025 earnings at ($0.42) EPS, FY2026 earnings at ($0.41) EPS, FY2027 earnings at ($0.18) EPS and FY2028 earnings at ($0.23) EPS.

Other analysts have also recently issued research reports about the stock. JMP Securities raised their price objective on shares of Arbutus Biopharma to $5.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Arbutus Biopharma from a "sell" rating to a "hold" rating in a research report on Saturday, August 10th. Chardan Capital boosted their target price on shares of Arbutus Biopharma from $4.00 to $4.50 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group upped their price objective on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Thursday, September 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.38.

Arbutus Biopharma Price Performance

Shares of ABUS stock traded down $0.02 during trading hours on Monday, reaching $3.73. 829,912 shares of the company's stock were exchanged, compared to its average volume of 1,111,766. The company's 50 day moving average is $4.03 and its two-hundred day moving average is $3.59. The company has a market cap of $706.80 million, a P/E ratio of -8.91 and a beta of 1.92. Arbutus Biopharma has a 1 year low of $1.70 and a 1 year high of $4.72.

Hedge Funds Weigh In On Arbutus Biopharma

Several institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in Arbutus Biopharma by 19.7% during the 1st quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company's stock valued at $902,000 after buying an additional 57,390 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Arbutus Biopharma during the 1st quarter valued at about $266,000. Verus Capital Partners LLC boosted its position in shares of Arbutus Biopharma by 30.5% during the 1st quarter. Verus Capital Partners LLC now owns 41,935 shares of the biopharmaceutical company's stock valued at $108,000 after purchasing an additional 9,800 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Arbutus Biopharma by 22.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company's stock worth $94,000 after purchasing an additional 6,649 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in shares of Arbutus Biopharma by 12.7% in the 1st quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company's stock worth $1,126,000 after purchasing an additional 49,265 shares in the last quarter. 43.79% of the stock is owned by institutional investors.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.