Leerink Partners Reaffirms Market Perform Rating for Equillium (NASDAQ:EQ)

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

Equillium Stock Down 35.6 %

Equillium stock opened at $0.49 on Friday. Equillium has a 52-week low of $0.41 and a 52-week high of $2.45. The company’s 50 day moving average is $0.76 and its two-hundred day moving average is $0.80. The firm has a market cap of $17.29 million, a PE ratio of -3.49 and a beta of 1.87.

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

Institutional Investors Weigh In On Equillium

A hedge fund recently bought a new stake in Equillium stock. Takeda Pharmaceutical Co. Ltd. acquired a new stake in shares of Equillium, Inc. (NASDAQ:EQ) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,824,977 shares of the company’s stock, valued at approximately $1,369,000. Equillium comprises 5.2% of Takeda Pharmaceutical Co. Ltd.’s portfolio, making the stock its 4th largest holding. Takeda Pharmaceutical Co. Ltd. owned approximately 5.15% of Equillium as of its most recent SEC filing. 27.05% of the stock is owned by hedge funds and other 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.