Roy Buchanan, an analyst from JMP Securities, reiterated the Buy rating on Arbutus Biopharma (ABUS – Research Report). The associated price target remains the same with $5.00.
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Roy Buchanan’s rating is based on Arbutus Biopharma’s strategic initiatives aimed at improving financial efficiency and operational focus. The company has announced significant management changes and a substantial workforce reduction, which are expected to decrease cash burn in 2025 compared to 2024. This restructuring includes a termination of the at-the-market equity facility and cessation of R&D activities, indicating a shift towards more efficient resource allocation.
Additionally, Arbutus is actively reviewing its HBV pipeline, with ongoing evaluations of its siRNA imdusiran program and the AB-101 inhibitor trial. The company is also engaged in legal proceedings against Moderna, which could potentially impact its financial position favorably. These factors collectively contribute to Buchanan’s confidence in Arbutus’s potential for future growth, justifying the Buy rating.