Brokerages expect that Arbutus Biopharma Co. (NASDAQ:ABUS) will report earnings of ($0.20) per share for the current quarter, according to Zacks. Two analysts have provided estimates for Arbutus Biopharma's earnings, with the lowest EPS estimate coming in at ($0.21) and the highest estimate coming in at ($0.18). Arbutus Biopharma reported earnings per share of ($0.33) during the same quarter last year, which would suggest a positive year over year growth rate of 39.4%. The firm is scheduled to announce its next earnings results on Wednesday, November 4th.
According to Zacks, analysts expect that Arbutus Biopharma will report full-year earnings of ($0.90) per share for the current fiscal year, with EPS estimates ranging from ($0.96) to ($0.85). For the next year, analysts expect that the business will post earnings of ($0.78) per share, with EPS estimates ranging from ($0.96) to ($0.58). Zacks' earnings per share calculations are a mean average based on a survey of analysts that follow Arbutus Biopharma.
Arbutus Biopharma (NASDAQ:ABUS) last released its quarterly earnings data on Friday, August 7th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($0.24) by ($0.01). The firm had revenue of $1.51 million during the quarter, compared to analysts' expectations of $1.85 million.
ABUS has been the subject of several recent research reports. JMP Securities initiated coverage on Arbutus Biopharma in a report on Monday, July 27th. They set an "outperform" rating and a $8.00 price objective for the company. BidaskClub upgraded Arbutus Biopharma from a "strong sell" rating to a "sell" rating in a report on Friday, September 18th. Robert W. Baird downgraded Arbutus Biopharma from an "outperform" rating to a "neutral" rating in a report on Friday, July 24th. ValuEngine downgraded Arbutus Biopharma from a "buy" rating to a "hold" rating in a report on Monday, July 20th. Finally, Chardan Capital reiterated a "buy" rating and set a $5.00 price target on shares of Arbutus Biopharma in a report on Friday, August 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and an average price target of $5.63.
In other Arbutus Biopharma news, insider Michael J. Mcelhaugh sold 20,000 shares of the company's stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $5.01, for a total value of $100,200.00. Following the completion of the transaction, the insider now owns 1,367,457 shares in the company, valued at approximately $6,850,959.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.60% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in ABUS. Virtu Financial LLC bought a new position in Arbutus Biopharma in the 2nd quarter valued at $31,000. Squarepoint Ops LLC bought a new position in Arbutus Biopharma in the 1st quarter valued at $43,000. Creative Planning purchased a new position in shares of Arbutus Biopharma during the 2nd quarter valued at $60,000. Jane Street Group LLC purchased a new position in shares of Arbutus Biopharma during the 1st quarter valued at $73,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Arbutus Biopharma during the 2nd quarter valued at $78,000. Hedge funds and other institutional investors own 32.29% of the company's stock.
Shares of NASDAQ ABUS traded down $0.02 during midday trading on Friday, hitting $3.07. 874,950 shares of the stock traded hands, compared to its average volume of 3,589,152. The company has a market cap of $248.39 million, a PE ratio of -1.25 and a beta of 2.79. Arbutus Biopharma has a one year low of $0.82 and a one year high of $9.02. The business has a 50 day moving average price of $2.92 and a two-hundred day moving average price of $2.38.
About Arbutus Biopharma
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 the United States. Its HBV product pipeline consists of AB-836, a capsid inhibitor that has the potential to inhibit HBV replication by preventing the assembly of functional viral capsids; and AB-423, which is in pre-clinical studies.
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