Could Arbutus Biopharma Corporation (ABUS) Change Direction After Today’s Significant Increase?

March 22, 2018 - By Nellie Frank

The stock of Arbutus Biopharma Corporation (NASDAQ:ABUS) is a huge mover today! The stock increased 7.95% or $0.35 during the last trading session, reaching $4.75. About 269,273 shares traded or 54.14% up from the average. Arbutus Biopharma Corporation (NASDAQ:ABUS) has declined 2.31% since March 22, 2017 and is downtrending. It has underperformed by 19.01% the S&P500.
The move comes after 8 months positive chart setup for the $261.58 million company. It was reported on Mar, 22 by We have $4.94 PT which if reached, will make NASDAQ:ABUS worth $10.46 million more.

Arbutus Biopharma Corporation (NASDAQ:ABUS) Ratings Coverage

Among 5 analysts covering Arbutus Biopharma (NASDAQ:ABUS), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Arbutus Biopharma had 16 analyst reports since August 7, 2015 according to SRatingsIntel. The rating was initiated by JMP Securities on Wednesday, September 2 with “Mkt Outperform”. Leerink Swann maintained Arbutus Biopharma Corporation (NASDAQ:ABUS) rating on Tuesday, November 7. Leerink Swann has “Market Perform” rating and $5.5 target. Wedbush maintained Arbutus Biopharma Corporation (NASDAQ:ABUS) rating on Wednesday, February 1. Wedbush has “Outperform” rating and $10 target. Chardan Capital Markets upgraded it to “Buy” rating and $6 target in Tuesday, April 4 report. The rating was downgraded by Chardan Capital Markets on Friday, July 8 to “Sell”. Leerink Swann downgraded Arbutus Biopharma Corporation (NASDAQ:ABUS) on Friday, August 5 to “Market Perform” rating. Chardan Capital Markets upgraded Arbutus Biopharma Corporation (NASDAQ:ABUS) on Friday, October 14 to “Neutral” rating. Wedbush initiated Arbutus Biopharma Corporation (NASDAQ:ABUS) on Friday, August 7 with “Outperform” rating. The rating was maintained by RBC Capital Markets with “Outperform” on Friday, November 6. The firm has “Buy” rating given on Wednesday, November 30 by Chardan Capital Markets.

Arbutus Biopharma Corporation, a biopharmaceutical company, engages in discovering, developing, and commercializing a cure for patients suffering from chronic Hepatitis B virus infection in Canada and the United States. The company has market cap of $261.58 million. It also develops a pipeline of products based on RNA interference therapeutics (RNAi). It currently has negative earnings. The company's lead candidate is ARB-1467, which is in a Phase II trial to eliminate HBV surface antigen expression in patients chronically infected with HBV.

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