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

Equillium (NASDAQ:EQ) was downgraded by analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,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 target (down previously from $3.00) on shares of Equillium in a research report on Friday.

Equillium Stock Down 16.9 %

Shares of NASDAQ EQ opened at $0.41 on Friday. The company has a market capitalization of $14.36 million, a PE ratio of -2.90 and a beta of 1.87. The stock’s 50 day moving average price is $0.76 and its 200-day moving average price is $0.79. Equillium has a twelve month low of $0.37 and a twelve month high of $2.43.

Equillium (NASDAQ:EQ) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.16) earnings per share 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, research analysts expect that Equillium will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Equillium

A hedge fund recently bought a new stake in Equillium stock. Takeda Pharmaceutical Co. Ltd. bought a new position in shares of Equillium, Inc. (NASDAQ:EQ) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,824,977 shares of the company’s stock, valued at approximately $1,369,000. Equillium accounts for 5.2% of Takeda Pharmaceutical Co. Ltd.’s investment portfolio, making the stock its 4th biggest position. Takeda Pharmaceutical Co. Ltd. owned about 5.15% of Equillium at the end of the most recent reporting period. Institutional investors 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.