Published on 9 Nov 2023 on Simply Wall St. via Yahoo Finance

Analysts Are Betting On Arbutus Biopharma Corporation (NASDAQ:ABUS) With A Big Upgrade This Week

Celebrations may be in order for Arbutus Biopharma Corporation (NASDAQ:ABUS) shareholders, with the analysts delivering a significant upgrade to their statutory estimates for the company. The analysts have sharply increased their revenue numbers, with a view that Arbutus Biopharma will make substantially more sales than they'd previously expected.

Following the upgrade, the consensus from four analysts covering Arbutus Biopharma is for revenues of US$19m in 2024, implying a considerable 13% decline in sales compared to the last 12 months. Losses are forecast to hold steady at around US$0.45 per share. However, before this estimates update, the consensus had been expecting revenues of US$16m and US$0.47 per share in losses. We can see there's definitely been a change in sentiment in this update, with the analysts administering a sizeable upgrade to next year's revenue estimates, while at the same time reducing their loss estimates.

Check out our latest analysis for Arbutus Biopharma