Zacks Investment Research Upgrades Equillium (NASDAQ:EQ) to “Buy”

Zacks Investment Research upgraded shares of Equillium (NASDAQ:EQGet Rating) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. They currently have $2.50 price target on the stock.

According to Zacks, “Equillium, Inc. is a biotechnology company. It develops products for autoimmune and inflammatory disorders. The company’s product pipeline consists of EQ001 which is in clinical-stage. Equillium, Inc. is based in CA, United States. “

Several other equities research analysts have also recently commented on EQ. HC Wainwright upped their price target on Equillium from $12.00 to $15.00 and gave the stock a buy rating in a research note on Thursday, March 24th. Stifel Nicolaus restated a buy rating and set a $12.00 price target on shares of Equillium in a research note on Friday, March 25th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of $11.50.

Shares of NASDAQ EQ opened at $2.18 on Wednesday. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.13. Equillium has a twelve month low of $2.17 and a twelve month high of $7.75. The stock has a 50 day moving average of $3.04 and a two-hundred day moving average of $4.02. The stock has a market cap of $74.72 million, a P/E ratio of -1.61 and a beta of 1.31.

Equillium (NASDAQ:EQGet Rating) last issued its quarterly earnings data on Wednesday, March 23rd. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). As a group, research analysts predict that Equillium will post -1.4 earnings per share for the current year.

In related news, CFO Jason A. Keyes sold 8,000 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $3.18, for a total transaction of $25,440.00. Following the transaction, the chief financial officer now owns 23,296 shares of the company’s stock, valued at $74,081.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 32.70% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP acquired a new position in Equillium during the fourth quarter worth $38,000. Citadel Advisors LLC acquired a new position in Equillium during the third quarter worth $74,000. Two Sigma Securities LLC acquired a new position in Equillium during the third quarter worth $573,000. Geode Capital Management LLC grew its holdings in Equillium by 2.4% during the third quarter. Geode Capital Management LLC now owns 154,185 shares of the company’s stock worth $1,051,000 after acquiring an additional 3,603 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Equillium by 8.2% during the first quarter. Victory Capital Management Inc. now owns 3,597,799 shares of the company’s stock worth $11,333,000 after acquiring an additional 272,749 shares during the period. 23.32% of the stock is currently owned by hedge funds and other institutional investors.

Equillium Company Profile (Get Rating)

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. Its primary product candidate is itolizumab, a clinical-stage monoclonal antibody that targets the novel immune checkpoint receptor CD6, which is in Phase 1b/2 clinical trials for the treatment of acute graft-versus-host disease; and Phase 1 clinical trial for the treatment of asthma and lupus nephritis.

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