The stock of Arbutus Biopharma Corp (NASDAQ:ABUS) hit a new 52-week low and has $2.42 target or 12.00% below today’s $2.75 share price. The 5 months bearish chart indicates high risk for the $150.81 million company. The 1-year low was reported on Nov, 17 by Barchart.com. If the $2.42 price target is reached, the company will be worth $18.10M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 1.79% or $0.05 on November 17, hitting $2.75. About 212,163 shares traded hands or 63.19% up from the average. Arbutus Biopharma Corp (NASDAQ:ABUS) has declined 42.27% since April 15, 2016 and is downtrending. It has underperformed by 46.89% the S&P500.
Arbutus Biopharma Corp (NASDAQ:ABUS) Ratings Coverage
Out of 5 analysts covering Arbutus Biopharma (NASDAQ:ABUS), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Arbutus Biopharma has been the topic of 10 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Leerink Swann downgraded the stock to “Market Perform” rating in Friday, August 5 report. The stock of Arbutus Biopharma Corp (NASDAQ:ABUS) earned “Neutral” rating by Chardan Capital Markets on Friday, October 14. Chardan Capital Markets downgraded it to “Sell” rating and $2.75 target price in Friday, July 8 report. The firm has “Outperform” rating by Wedbush given on Friday, August 7. The company was initiated on Friday, August 7 by Wedbush. The rating was initiated by Chardan Capital Markets on Monday, May 16 with “Sell”. Chardan Capital Markets upgraded it to “Neutral” rating and $3.25 target price in Thursday, June 16 report. JMP Securities initiated the stock with “Mkt Outperform” rating in Wednesday, September 2 report. As per Friday, November 6, the company rating was maintained by RBC Capital Markets.
According to Zacks Investment Research, “Arbutus Biopharma Corporation is a biopharmaceutical company which is focused on discovering, developing and commercializing a portfolio of drug candidates for chronic hepatitis B infection. The Company’s products include TKM-HBV, Cyclophilin Inhibitor-OCB-030, TLR9 Agonist (CYT-003), Capsid Assembly Inhibitors, Surface Antigen Secretion Inhibitors, STING Agonists, cccDNA Formation Inhibitors, cccDNA Epigenetic Modifiers, TKM-PLK1, GI-NET and ACC, HCC, TKM-Ebola, TKM-Ebola-Guinea, TKM-Marburg, TKM-HTG and TKM-ALDH which are in different clinical trial stage. Arbutus Biopharma Corp, formerly known as Tekmira Pharmaceuticals Corporation, is headquartered in Vancouver, BC.”
More news for Arbutus Biopharma Corp (NASDAQ:ABUS) were recently published by: Marketwatch.com, which released: “Virtual Stock Exchange” on December 29, 2013. Globenewswire.com‘s article titled: “Tekmira Announces Launch of Arbutus Biopharma, a Hepatitis B Solutions Company” and published on July 20, 2015 is yet another important article.
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