Equillium’s (EQ) Market Perform Rating Reaffirmed at Leerink Partners

Equillium (NASDAQ:EQ)‘s stock had its “market perform” rating restated by research analysts at Leerink Partners in a research report issued on Friday, MarketBeat reports. They presently have a $1.00 target price on the stock, down from their previous target price of $3.00. Leerink Partners’ price objective indicates a potential upside of 146.67% from the company’s current price.

Equillium Stock Down 16.9 %

Shares of NASDAQ:EQ opened at $0.41 on Friday. The company has a market capitalization of $14.36 million, a P/E ratio of -2.90 and a beta of 1.87. Equillium has a 52-week low of $0.37 and a 52-week high of $2.43. The stock’s fifty day simple moving average is $0.76 and its 200-day simple moving average is $0.79.

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

Institutional Investors Weigh In On Equillium

An institutional investor recently raised its position in Equillium stock. DCF Advisers LLC increased its stake in Equillium, Inc. (NASDAQ:EQ) by 91.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing. Institutional investors and hedge funds own 27.05% of the company’s stock.

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.