Equillium’s (EQ) “Market Perform” Rating Reiterated at Leerink Partners

Equillium (NASDAQ:EQ)‘s stock had its “market perform” rating restated by investment analysts at Leerink Partners in a research report issued on Friday,Benzinga reports. They presently have a $1.00 price target on the stock, down from their prior price target of $3.00. Leerink Partners’ price objective points to a potential upside of 104.92% from the stock’s previous close.

Equillium Price Performance

EQ stock opened at $0.49 on Friday. Equillium has a 1-year low of $0.41 and a 1-year high of $2.45. The business has a 50-day moving average price of $0.76 and a 200 day moving average price of $0.80. The company has a market capitalization of $17.29 million, a P/E ratio of -3.49 and a beta of 1.87.

Equillium (NASDAQ:EQ) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.06. The firm had revenue of $4.39 million during the quarter. Equillium had a negative return on equity of 20.68% and a negative net margin of 10.05%. On average, analysts anticipate that Equillium will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Equillium

A hedge fund recently bought a new stake in Equillium stock. Takeda Pharmaceutical Co. Ltd. purchased a new stake in Equillium, Inc. (NASDAQ:EQ) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,824,977 shares of the company’s stock, valued at approximately $1,369,000. Equillium comprises about 5.2% of Takeda Pharmaceutical Co. Ltd.’s investment portfolio, making the stock its 4th biggest position. Takeda Pharmaceutical Co. Ltd. owned about 5.15% of Equillium at the end of the most recent reporting period. Institutional investors and hedge funds own 27.05% of the company’s stock.

Equillium Company Profile

Equillium, Inc, a clinical-stage biotechnology company, develops and sells products to treat severe autoimmune and inflammatory, or immuno-inflammatory disorders with unmet medical need. The company's lead product candidate is itolizumab (EQ001), a first-in-class monoclonal antibody that targets the immune checkpoint receptor CD6, which is in Phase III clinical trials for the treatment of acute graft-versus-host disease; completed Phase I clinical trial for the treatment of ulcerative colitis; and Phase I clinical trial for the treatment of lupus nephritis.