Equillium (NASDAQ:EQ) Cut to Hold at Leerink Partnrs

Leerink Partnrs cut shares of Equillium (NASDAQ:EQ) from a strong-buy rating to a hold rating in a report released on Friday morning,Zacks.com reports. Leerink Partnrs also issued estimates for Equillium’s FY2029 earnings at ($0.06) EPS.

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

Equillium Price Performance

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

Equillium (NASDAQ:EQ) last released its quarterly 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 firm 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 fiscal year.

Institutional Trading of Equillium

An institutional investor recently bought a new position in Equillium stock. Takeda Pharmaceutical Co. Ltd. purchased a new stake in Equillium, Inc. (NASDAQ:EQ) during the fourth quarter, according to its most recent 13F filing 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 makes up about 5.2% of Takeda Pharmaceutical Co. Ltd.’s holdings, making the stock its 4th largest position. Takeda Pharmaceutical Co. Ltd. owned about 5.15% of Equillium as of its most recent SEC filing. 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.