Chardan Capital Thinks Arbutus Biopharma’s Stock is Going to Recover

Chardan Capital analyst Keay Nakae reiterated a Buy rating on Arbutus Biopharma (ABUSResearch Report) today and set a price target of $6.00. The company’s shares closed last Thursday at $2.54, close to its 52-week low of $1.93.

According to TipRanks.com, Nakae is a 4-star analyst with an average return of 8.0% and a 41.4% success rate. Nakae covers the Healthcare sector, focusing on stocks such as Sonnet BioTherapeutics Holdings, Arrowhead Pharmaceuticals, and Better Therapeutics, Inc.

Arbutus Biopharma has an analyst consensus of Strong Buy, with a price target consensus of $6.33, representing a 153.2% upside. In a report issued on July 21, JMP Securities also reiterated a Buy rating on the stock with a $9.00 price target.

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Arbutus Biopharma’s market cap is currently $377.8M and has a P/E ratio of -4.29.

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Arbutus Biopharma Corp. engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company is headquartered in Burnaby, Canada.

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