Arbutus Biopharma price target raised to $5 from $4.50 at Chardan

Chardan analyst Keay Nakae raised the firm’s price target on Arbutus Biopharma (ABUS) to $5 from $4.50 and keeps a Buy rating on the shares. The firm is citing the company’s follow-up and end-of-treatment data from the IM-PROVE I Phase 2a and IM-PROVE II Phase 2a clinical trials on imdusiran at AASLD, noting that while the data is from a small sample of patients, the combination therapy regimens evaluated in IM-PROVE I demonstrated a possible best path to proceed down to achieve the goal of functional cure, the analyst tells investors in a research note.