Arbutus Biopharma (NASDAQ:ABUS) Issues Earnings Results

Arbutus Biopharma (NASDAQ:ABUS) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.32, FiscalAI reports. Arbutus Biopharma had a net margin of 84.22% and a return on equity of 90.98%. The company had revenue of $0.30 million during the quarter, compared to the consensus estimate of $1.00 million.

Arbutus Biopharma Trading Up 3.4%

Shares of Arbutus Biopharma stock traded up $0.12 during trading on Tuesday, hitting $3.85. The stock had a trading volume of 218,714 shares, compared to its average volume of 2,930,731. Arbutus Biopharma has a 12 month low of $3.50 and a 12 month high of $5.45. The business’s 50-day moving average is $4.55 and its 200 day moving average is $4.48. The firm has a market cap of $761.73 million, a price-to-earnings ratio of 4.87 and a beta of 0.84.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen cut shares of Arbutus Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Arbutus Biopharma from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Arbutus Biopharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.00.

Arbutus Biopharma declared that its board has approved a share repurchase plan on Friday, August 21st that permits the company to repurchase shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

About Arbutus Biopharma

Arbutus Biopharma is a clinical-stage biopharmaceutical company focused on developing treatments for chronic hepatitis B virus (HBV) infection. Its research programs include RNA interference (RNAi) therapies, immune-based treatments and capsid assembly inhibitors, which target different aspects of the virus and the body’s response to infection.

The company’s investigational portfolio includes imdusiran, an RNAi therapeutic designed to reduce hepatitis B surface antigen, as well as other HBV drug candidates at various stages of development.