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Wednesday, October 28, 2020

The Forecast Just Changed on Arbutus Biopharma Corporation (NASDAQ:ABUS)

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Arbutus Biopharma Corporation (ABUS) shares are trading at higher $3.32 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $5.17.

To add more color to this target, the company’s high over the last year is $9.02 and the low is $0.82. Over the last 52 weeks, ABUS is up 273.03% while the S&P 500 is up 18.10%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ABUS reported a profit of $14.54 million. Arbutus Biopharma Corporation also saw revenues increase to $1.51 million. In addition, ABUS has free cash flow of -$24.32 million as of 06-2020. The company’s EBITDA came in at -$12.52 million which compares well with its peers.

ABUS Return on Equity (ROE) is 225.70%, and its Return on Assets is -138.80%. All told, it is clear that, ABUS needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ABUS has a short ratio of 0.33 and outstanding shares of 69.61M.

Company Outlook

ABUS has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -2.46. Arbutus Biopharma Corporation ABUS also noted assets of $97.63 million at the end of the last quarter. Investors should also keep an eye on sector updates as ABUS has historically followed its peers on positive news.

All told, Arbutus Biopharma Corporation ABUS has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ABUS represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Arbutus Biopharma Corporation ABUS is now commanding a market cap of 274.83M and a float of 60.15M. ABUS is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ABUS stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ABUS, either long or short, and we have not been compensated for this article.

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