Arbutus Biopharma (ABUS) Gets a Buy Rating from Chardan Capital

By Austin Angelo

In a report released today, Keay Nakae from Chardan Capital reiterated a Buy rating on Arbutus Biopharma (ABUSResearch Report), with a price target of $5.00. The company’s shares closed last Tuesday at $1.65.

According to TipRanks.com, Nakae is a 4-star analyst with an average return of 8.3% and a 49.4% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Arrowhead Pharmaceuticals, Lineage Cell Therapeutics, and Emergent Biosolutions.

Arbutus Biopharma has an analyst consensus of Strong Buy, with a price target consensus of $5.00, which is a 237.8% upside from current levels. In a report issued on May 11, B.Riley FBR also reiterated a Buy rating on the stock with a $6.00 price target.

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Based on Arbutus Biopharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.62 million and GAAP net loss of $24.65 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.