Zacks: Analysts Expect Arbutus Biopharma Corp (NASDAQ:ABUS) Will Announce Earnings of -$0.35 Per Share

Equities analysts expect Arbutus Biopharma Corp (NASDAQ:ABUS) to announce earnings of ($0.35) per share for the current quarter, Zacks reports. Two analysts have provided estimates for Arbutus Biopharma’s earnings. The highest EPS estimate is ($0.34) and the lowest is ($0.36). Arbutus Biopharma posted earnings of ($0.44) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 20.5%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 1st.

On average, analysts expect that Arbutus Biopharma will report full-year earnings of ($1.32) per share for the current fiscal year, with EPS estimates ranging from ($1.78) to ($0.65). For the next fiscal year, analysts forecast that the business will report earnings of ($1.09) per share, with EPS estimates ranging from ($1.57) to ($0.53). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover Arbutus Biopharma.

Arbutus Biopharma (NASDAQ:ABUS) last announced its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($0.47) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.16). The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.18 million. Arbutus Biopharma had a negative net margin of 1,237.92% and a negative return on equity of 95.26%.

A number of research analysts have commented on ABUS shares. BidaskClub upgraded Arbutus Biopharma from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Chardan Capital restated a “buy” rating and issued a $6.50 price target on shares of Arbutus Biopharma in a research report on Sunday, March 10th. Zacks Investment Research upgraded Arbutus Biopharma from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Tuesday, March 12th. Echelon Wealth Partners restated a “hold” rating on shares of Arbutus Biopharma in a research report on Monday, March 11th. Finally, ValuEngine lowered Arbutus Biopharma from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $6.25.

Shares of ABUS opened at $2.08 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 12.75 and a current ratio of 12.75. The company has a fifty day moving average price of $1.99. Arbutus Biopharma has a 52 week low of $1.42 and a 52 week high of $12.60.

A number of institutional investors and hedge funds have recently modified their holdings of ABUS. BNP Paribas Arbitrage SA bought a new stake in Arbutus Biopharma during the first quarter valued at $26,000. Legal & General Group Plc boosted its position in Arbutus Biopharma by 15.8% during the fourth quarter. Legal & General Group Plc now owns 28,407 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 3,867 shares during the last quarter. Rhumbline Advisers boosted its position in Arbutus Biopharma by 45.9% during the fourth quarter. Rhumbline Advisers now owns 49,032 shares of the biopharmaceutical company’s stock valued at $188,000 after acquiring an additional 15,416 shares during the last quarter. Two Sigma Investments LP boosted its position in Arbutus Biopharma by 116.2% during the fourth quarter. Two Sigma Investments LP now owns 52,344 shares of the biopharmaceutical company’s stock valued at $200,000 after acquiring an additional 28,133 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Arbutus Biopharma by 18.8% during the first quarter. SG Americas Securities LLC now owns 57,454 shares of the biopharmaceutical company’s stock valued at $206,000 after acquiring an additional 9,078 shares during the last quarter. 41.76% of the stock is currently owned by institutional investors and hedge funds.

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 Canada and the United States. Its HBV product pipeline consists of AB-506, a capsid inhibitor that has shown improved potency and pharmacokinetics over its first generation capsid inhibitor; and AB-423, which is in pre-clinical studies.

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

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