In a report released today, Roy Buchanan from JMP Securities reiterated a Buy rating on Arbutus Biopharma (ABUS – Research Report), with a price target of $5.00.
Roy Buchanan’s rating is based on Arbutus Biopharma’s strategic focus on leveraging its LNP and HBV pipelines, which are expected to enhance the company’s value. The recent changes in management and board composition, including the appointment of a new CEO with expertise in LNP litigation, are seen as positive steps towards optimizing these opportunities. The ongoing litigation with Moderna regarding LNP technology is a critical factor, with significant developments anticipated in 2025, including a trial scheduled for September. Additionally, the company’s HBV program, particularly the progress of imdusiran to Phase 2b trials, is viewed favorably, given its potential differentiation within the siRNA class. Buchanan maintains a positive outlook on Arbutus Biopharma, supported by the promising Phase 2a results of imdusiran and the expectation of further updates before the trial with Moderna commences.