Leerink Partnrs Downgrades Equillium (NASDAQ:EQ) to Hold

Equillium (NASDAQ:EQ) was downgraded by analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a note issued to investors on Friday,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 issued a $1.00 target price (down from $3.00) on shares of Equillium in a research note on Friday.

Equillium Stock Performance

Equillium stock opened at $0.41 on Friday. The stock 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 52-week low of $0.37 and a 52-week high of $2.43. The stock’s 50 day moving average price is $0.76 and its two-hundred day moving average price is $0.79.

Equillium (NASDAQ:EQ) last issued its earnings results on Thursday, March 27th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.06. Equillium had a negative net margin of 10.05% and a negative return on equity of 20.68%. The business had revenue of $4.39 million for the quarter. On average, equities research analysts forecast that Equillium will post 0.14 EPS 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 shares of Equillium, Inc. (NASDAQ:EQ) by 91.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,947 shares of the company’s stock after buying an additional 29,985 shares during the period. DCF Advisers LLC owned about 0.18% of Equillium worth $47,000 at the end of the most recent quarter. 27.05% of the stock is currently owned by 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.