Equillium (NASDAQ:EQ) Receives “Market Perform” Rating from Leerink Partners

Leerink Partners reiterated their market perform rating on shares of Equillium (NASDAQ:EQ) in a research note released on Friday, Marketbeat Ratings reports. Leerink Partners currently has a $1.00 target price on the stock, down from their prior target price of $3.00.

Equillium Trading Down 16.9 %

NASDAQ EQ opened at $0.41 on Friday. Equillium has a 1-year low of $0.37 and a 1-year high of $2.43. The company has a 50 day moving average of $0.76 and a 200-day moving average of $0.79. The firm has a market cap of $14.36 million, a price-to-earnings ratio of -2.90 and a beta of 1.87.

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

Hedge Funds Weigh In On Equillium

An institutional investor recently bought a new position in Equillium stock. Takeda Pharmaceutical Co. Ltd. purchased a new stake in shares of Equillium, Inc. (NASDAQ:EQ) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,824,977 shares of the company’s stock, valued at approximately $1,369,000. Equillium accounts for about 5.2% of Takeda Pharmaceutical Co. Ltd.’s portfolio, making the stock its 4th biggest holding. Takeda Pharmaceutical Co. Ltd. owned about 5.15% of Equillium at the end of the most recent quarter. 27.05% of the stock is currently owned by institutional investors.

About Equillium

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.