Leerink Partners Downgrades Arbutus Biopharma (ABUS) to Market Perform
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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."
Shares of Arbutus Biopharma closed at $4.37 yesterday.
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