Equillium (NASDAQ:EQ) Lowered to “Hold” Rating by Leerink Partnrs

Equillium (NASDAQ:EQ) was downgraded by investment analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports. Leerink Partnrs also issued estimates for Equillium’s FY2029 earnings at ($0.06) EPS.

Separately, Leerink Partners reiterated a “market perform” rating and issued a $1.00 target price (down from $3.00) on shares of Equillium in a research note on Friday.

Equillium Trading Down 16.9 %

Shares of EQ opened at $0.41 on Friday. The stock has a 50 day moving average of $0.76 and a 200 day moving average of $0.79. The company has a market capitalization of $14.36 million, a price-to-earnings ratio of -2.90 and a beta of 1.87. Equillium has a 12 month low of $0.37 and a 12 month high of $2.43.

Equillium (NASDAQ:EQ) last announced its earnings results on Thursday, March 27th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, equities research analysts predict that Equillium will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Equillium stock. DCF Advisers LLC lifted its stake in Equillium, Inc. (NASDAQ:EQ) by 91.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,947 shares of the company’s stock after acquiring an additional 29,985 shares during the period. DCF Advisers LLC owned approximately 0.18% of Equillium worth $47,000 at the end of the most recent reporting period. 27.05% of the stock is owned by institutional investors.

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.