Equillium (NASDAQ:EQ) Given “Buy” Rating at Roth Capital

Equillium (NASDAQ:EQ)‘s stock had its “buy” rating reiterated by Roth Capital in a research report issued on Friday, Benzinga reports. They currently have a $12.00 target price on the stock. Roth Capital’s price target points to a potential upside of 436.43% from the company’s current price.

A number of other research firms have also recently issued reports on EQ. Wall Street Zen upgraded Equillium from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Equillium in a report on Wednesday, June 24th. Clear Str upgraded shares of Equillium to a “strong-buy” rating in a research report on Tuesday, July 21st. Zacks Research raised shares of Equillium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Leerink Partners raised shares of Equillium from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $1.00 to $6.00 in a research report on Thursday, May 28th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.57.

Equillium Price Performance

NASDAQ:EQ traded up $0.02 during trading hours on Friday, reaching $2.24. 186,344 shares of the company were exchanged, compared to its average volume of 605,804. The business has a 50 day moving average of $2.50 and a 200 day moving average of $2.32. Equillium has a 1-year low of $0.76 and a 1-year high of $3.54. The company has a market capitalization of $141.85 million, a P/E ratio of -11.20 and a beta of 1.81.

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

Institutional Investors Weigh In On Equillium

Institutional investors and hedge funds have recently modified their holdings of the company. Jupiter Topco LLC purchased a new stake in Equillium in the 2nd quarter worth approximately $20,685,000. Janus Henderson Group PLC purchased a new stake in shares of Equillium in the fourth quarter worth $9,057,000. ADAR1 Capital Management LLC bought a new stake in Equillium during the third quarter valued at $7,951,000. Woodline Partners LP purchased a new position in Equillium during the third quarter worth about $5,018,000. Finally, Eversept Partners LP purchased a new position in Equillium during the first quarter worth about $2,998,000. 27.05% of the stock is owned by hedge funds and other institutional investors.

Equillium Company Profile

Equillium, Inc (NASDAQ: EQ) is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies to treat severe autoimmune diseases and prevent organ transplant rejection. The company’s lead therapeutic candidate, EQ001 (itolizumab), is a humanized monoclonal antibody that modulates T-cell activation by targeting the CD6 receptor. Equillium’s pipeline also includes additional biologic candidates aimed at addressing indications such as acute graft-versus-host disease (GVHD) and lupus nephritis.

Founded in 2015 and headquartered in La Jolla, California, Equillium in-licensed itolizumab from Biocon Limited, leveraging the antibody’s established safety profile in earlier clinical studies.