Arbutus Biopharma Co. (NASDAQ:ABUS) Expected to Announce Earnings of -$0.13 Per Share

Brokerages forecast that Arbutus Biopharma Co. (NASDAQ:ABUSGet Rating) will post earnings of ($0.13) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Arbutus Biopharma’s earnings, with estimates ranging from ($0.15) to ($0.10). Arbutus Biopharma reported earnings of ($0.23) per share during the same quarter last year, which suggests a positive year over year growth rate of 43.5%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Arbutus Biopharma will report full year earnings of ($0.51) per share for the current fiscal year, with EPS estimates ranging from ($0.60) to ($0.39). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.58) per share, with EPS estimates ranging from ($0.80) to ($0.40). Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Arbutus Biopharma.

Arbutus Biopharma (NASDAQ:ABUSGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Arbutus Biopharma had a negative return on equity of 121.30% and a negative net margin of 352.49%. The business had revenue of $12.58 million during the quarter, compared to the consensus estimate of $5.77 million. During the same period last year, the firm earned ($0.21) earnings per share.

Several research firms have issued reports on ABUS. Chardan Capital upped their price target on Arbutus Biopharma from $5.50 to $6.00 and gave the company a “buy” rating in a report on Friday, March 4th. Jefferies Financial Group raised shares of Arbutus Biopharma from a “hold” rating to a “buy” rating and upped their target price for the company from $4.00 to $5.00 in a research note on Wednesday, February 2nd. Zacks Investment Research lowered shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a report on Monday, May 16th. HC Wainwright raised their target price on shares of Arbutus Biopharma from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, March 14th. Finally, StockNews.com initiated coverage on shares of Arbutus Biopharma in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.25.

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP lifted its holdings in shares of Arbutus Biopharma by 187.7% in the 3rd quarter. Two Sigma Investments LP now owns 730,298 shares of the biopharmaceutical company’s stock worth $3,133,000 after acquiring an additional 476,475 shares during the last quarter. Traynor Capital Management Inc. purchased a new position in shares of Arbutus Biopharma in the fourth quarter worth $42,000. QCM Cayman Ltd. purchased a new position in shares of Arbutus Biopharma in the fourth quarter worth $40,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Arbutus Biopharma in the third quarter worth $626,000. Finally, Geode Capital Management LLC increased its stake in shares of Arbutus Biopharma by 19.7% in the third quarter. Geode Capital Management LLC now owns 1,540,431 shares of the biopharmaceutical company’s stock worth $6,608,000 after buying an additional 253,773 shares during the period. Hedge funds and other institutional investors own 26.66% of the company’s stock.

ABUS opened at $2.40 on Friday. The business’s 50 day moving average is $2.66 and its 200-day moving average is $3.13. The stock has a market cap of $356.95 million, a PE ratio of -3.29 and a beta of 2.66. Arbutus Biopharma has a twelve month low of $1.93 and a twelve month high of $6.50.

About Arbutus Biopharma (Get Rating)

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection, SARS-CoV-2, and other coronaviruses in the United States. Its HBV product pipeline consists of AB-729, a proprietary subcutaneously delivered RNA interference product candidate, which in Phase Ia/Ib clinical trial targeted to hepatocytes that inhibits viral replication and reduces various HBV antigens using novel covalently conjugated N-acetylgalactosamine (GalNAc) delivery technology; and AB-836, an oral capsid inhibitor that suppresses HBV DNA replication.

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

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