JMP Securities Increases Arbutus Biopharma (NASDAQ:ABUS) Price Target to $5.00

Arbutus Biopharma (NASDAQ:ABUS) had its price target boosted by stock analysts at JMP Securities to $5.00 in a note issued to investors on Wednesday, Stock Target Advisor reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. JMP Securities’ target price indicates a potential upside of 34.05% from the company’s current price.

Several other research firms have also recently issued reports on ABUS. Jefferies Financial Group boosted their target price on Arbutus Biopharma from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. StockNews.com raised Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Arbutus Biopharma presently has a consensus rating of “Moderate Buy” and an average price target of $5.38.

Arbutus Biopharma Price Performance

Shares of Arbutus Biopharma stock opened at $3.73 on Wednesday. Arbutus Biopharma has a one year low of $1.70 and a one year high of $4.72. The stock has a market capitalization of $704.15 million, a P/E ratio of -8.29 and a beta of 1.92. The business’s 50 day simple moving average is $4.04 and its two-hundred day simple moving average is $3.58.

Institutional Investors Weigh In On Arbutus Biopharma

Hedge funds have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new stake in shares of Arbutus Biopharma during the first quarter valued at approximately $266,000. BNP Paribas Financial Markets boosted its position in shares of Arbutus Biopharma by 19.7% during the first quarter. BNP Paribas Financial Markets now owns 349,435 shares of the biopharmaceutical company’s stock valued at $902,000 after purchasing an additional 57,390 shares in the last quarter. Rubric Capital Management LP bought a new stake in shares of Arbutus Biopharma during the second quarter valued at approximately $5,195,000. Kennedy Capital Management LLC boosted its position in shares of Arbutus Biopharma by 12.7% during the first quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock valued at $1,126,000 after purchasing an additional 49,265 shares in the last quarter. Finally, Walleye Trading LLC bought a new stake in shares of Arbutus Biopharma during the first quarter valued at approximately $36,000. 43.79% of the stock is currently 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.