Equillium's (EQ) "Buy" Rating Reaffirmed at HC Wainwright

Equillium (NASDAQ:EQ - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $5.00 target price on the stock. HC Wainwright's price target would indicate a potential upside of 220.51% from the stock's current price.

Equillium Trading Up 1.3 %

NASDAQ:EQ traded up $0.02 during mid-day trading on Friday, hitting $1.56. The stock had a trading volume of 31,039 shares, compared to its average volume of 278,191. Equillium has a 52 week low of $0.45 and a 52 week high of $3.25. The stock has a market capitalization of $55.01 million, a price-to-earnings ratio of -4.33 and a beta of 1.77. The company has a 50 day simple moving average of $2.02 and a 200-day simple moving average of $1.38.

Equillium (NASDAQ:EQ - Get Free Report) last released its quarterly earnings results on Monday, March 25th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.10. Equillium had a negative return on equity of 51.20% and a negative net margin of 32.01%. The company had revenue of $9.21 million for the quarter, compared to analysts' expectations of $8.85 million. As a group, equities research analysts anticipate that Equillium will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Equillium

An institutional investor recently bought a new position in Equillium stock. Acadian Asset Management LLC acquired a new position in Equillium, Inc. (NASDAQ:EQ - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 108,691 shares of the company's stock, valued at approximately $249,000. Acadian Asset Management LLC owned approximately 0.31% of Equillium as of its most recent filing with the SEC. 27.05% of the stock is owned by hedge funds and other 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.