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

Leerink Partners reissued their market perform rating on shares of Equillium (NASDAQ:EQ) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has a $1.00 price objective on the stock, down from their previous price objective of $3.00.

Equillium Stock Performance

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

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 the consensus estimate of ($0.22) by $0.06. The business 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%. As a group, sell-side analysts anticipate 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 grew its stake in shares of Equillium, Inc. (NASDAQ:EQ) by 91.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 62,947 shares of the company’s stock after purchasing an additional 29,985 shares during the period. DCF Advisers LLC owned about 0.18% of Equillium worth $47,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 27.05% of the company’s stock.

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.