Leerink Partners Downgrades Arbutus Biopharma (ABUS) to Market Perform

August 5, 2016 7:30 AM EDT
Get Alerts ABUS Hot Sheet
Price: $3.10 -4.62%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 1 | New: 2
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Leerink Partners downgraded Arbutus Biopharma (NASDAQ: ABUS) from Outperform to Market Perform with a price target of $5.00.

Analyst Michael Schmidt commented, "We're downgrading ABUS to Market Perform from Outperform to reflect added uncertainty around the company's efforts in developing a cure for HBV, following disappointing updates provided by the company yesterday. Our new PT of $5 reflects a lower probability of success for developing an effective combination or cure for the treatment of chronic HBV infection as well as reduced market assumptions to account for prolonged timelines."

For an analyst ratings summary and ratings history on Arbutus Biopharma click here. For more ratings news on Arbutus Biopharma click here.

Shares of Arbutus Biopharma closed at $4.37 yesterday.

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