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 research report issued on Friday,Zacks.com reports. Leerink Partnrs also issued estimates for Equillium’s FY2029 earnings at ($0.06) EPS.

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

Equillium Trading Down 16.9 %

NASDAQ:EQ opened at $0.41 on Friday. The stock’s 50-day moving average is $0.76 and its 200-day moving average is $0.79. Equillium has a 1-year low of $0.37 and a 1-year high of $2.43. The stock 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 announced its quarterly 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 firm 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%. As a group, equities analysts forecast that Equillium will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Equillium stock. Takeda Pharmaceutical Co. Ltd. purchased a new position in shares of Equillium, Inc. (NASDAQ:EQ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,824,977 shares of the company’s stock, valued at approximately $1,369,000. Equillium makes up approximately 5.2% of Takeda Pharmaceutical Co. Ltd.’s holdings, making the stock its 4th biggest holding. Takeda Pharmaceutical Co. Ltd. owned 5.15% of Equillium at the end of the most recent quarter. 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.