Equillium (NASDAQ:EQ) Given "Outperform" Rating at Leerink Partners

Key Points

• Leerink Partners reiterated an “outperform” rating on Equillium and set a $6.00 price target, implying potential upside of 325.53% from the prior close.
• Analyst sentiment is mixed but leans positive: Equillium has a consensus “Moderate Buy” rating and an average price target of $7.57, based on ratings from 11 analysts.
• Equillium shares opened at $1.41, while institutional investors and hedge funds own 27.05% of the company. The clinical-stage biotech is developing itolizumab for severe autoimmune and inflammatory diseases, including graft-versus-host disease and lupus nephritis.

Equillium (NASDAQ:EQ - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Leerink Partners in a report issued on Monday, Benzinga reports. They currently have a $6.00 price target on the stock. Leerink Partners' target price indicates a potential upside of 325.53% from the company's previous close.

Several other analysts have also issued reports on EQ. Piper Sandler began coverage on shares of Equillium in a research report on Monday, July 13th. They issued an "overweight" rating on the stock. Roth Capital reaffirmed a "buy" rating and set a $12.00 price objective on shares of Equillium in a research report on Friday, September 4th. Zacks Research raised shares of Equillium from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Wall Street Zen cut shares of Equillium from a "hold" rating to a "sell" rating in a research note on Saturday, September 19th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Equillium in a research note on Monday, September 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $7.57.

Equillium Stock Performance

Shares of Equillium stock opened at $1.41 on Monday. Equillium has a 1 year low of $0.76 and a 1 year high of $3.54. The company's fifty day simple moving average is $2.04 and its 200-day simple moving average is $2.30. The company has a market cap of $89.41 million, a price-to-earnings ratio of -7.05 and a beta of 1.93.

Equillium (NASDAQ:EQ - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. As a group, research analysts forecast that Equillium will post -0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Equillium

A number of institutional investors have recently bought and sold shares of EQ. High Net Worth Advisory Group LLC acquired a new position in shares of Equillium in the 2nd quarter valued at $107,000. Two Sigma Securities LLC bought a new position in shares of Equillium during the 2nd quarter worth about $35,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Equillium during the 2nd quarter valued at about $48,000. Jefferies Financial Group Inc. acquired a new stake in shares of Equillium during the 2nd quarter valued at about $109,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Equillium during the 2nd quarter valued at about $20,685,000. Institutional investors and hedge funds own 27.05% of the company's stock.

About Equillium

Equillium, Inc is a clinical-stage biotechnology company focused on developing therapies for severe autoimmune and inflammatory diseases. The company's approach centers on modulating immune pathways involved in disease progression, with the goal of addressing conditions that have limited treatment options.

Equillium's lead product candidate is itolizumab, a monoclonal antibody that targets CD6, an immune-cell receptor involved in the regulation of T-cell activity. The company is evaluating itolizumab in immune-mediated conditions, including acute graft-versus-host disease and lupus nephritis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.