UPDATE: Jefferies Assumes Arbutus Biopharma (ABUS) at Hold
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Jefferies analyst Dennis Ding assumes coverage on Arbutus Biopharma (NASDAQ: ABUS) with a Hold rating and a price target of $4.00.
The analyst comments "We are assuming coverage of ABUS at Hold. ABUS is developing drugs for HepB, and while early data looks promising, functional cure data is years away, and we're uncertain if ABUS's approach would be positive in light of competitor triple combo data. There are more questions than answers at this point, plus investors need to be mindful of litigation noise over the next few years, which could swing the stock (hard to predict)."
Shares of Arbutus Biopharma closed at $3.82 yesterday.
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