Equillium (NASDAQ:EQ) Downgraded by Leerink Partnrs to “Hold”

Leerink Partnrs downgraded shares of Equillium (NASDAQ:EQ) from a strong-buy rating to a hold rating in a research report sent to investors 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 objective (down previously from $3.00) on shares of Equillium in a report on Friday.

Equillium Price Performance

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

Equillium (NASDAQ:EQ) last posted its quarterly 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. The business had revenue of $4.39 million for the quarter. Equillium had a negative return on equity of 20.68% and a negative net margin of 10.05%. As a group, analysts expect that Equillium will post 0.14 EPS for the current year.

Institutional Trading of Equillium

A hedge fund recently raised its stake in Equillium stock. DCF Advisers LLC boosted its position in shares of Equillium, Inc. (NASDAQ:EQ) by 91.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period. 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.