Equillium (NASDAQ:EQ) Receives Buy Rating from Roth Mkm

Equillium (NASDAQ:EQ)‘s stock had its “buy” rating reaffirmed by research analysts at Roth Mkm in a note issued to investors on Thursday,Benzinga reports. They presently have a $12.00 price objective on the stock. Roth Mkm’s price objective would indicate a potential upside of 308.16% from the company’s current price.

EQ has been the subject of a number of other research reports. Oppenheimer assumed coverage on Equillium in a research note on Thursday, April 23rd. They issued an “outperform” rating and a $7.00 target price for the company. B. Riley Financial assumed coverage on Equillium in a research note on Thursday, April 16th. They issued a “buy” rating and a $6.00 target price for the company. Zacks Research upgraded Equillium to a “hold” rating in a research note on Thursday, February 26th. Stifel Nicolaus set a $5.00 price objective on Equillium in a research note on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Equillium in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.57.

Equillium Stock Performance

EQ traded up $0.31 on Thursday, hitting $2.94. 1,526,009 shares of the company were exchanged, compared to its average volume of 472,864. The firm has a fifty day simple moving average of $2.08 and a two-hundred day simple moving average of $1.62. Equillium has a 12 month low of $0.27 and a 12 month high of $3.10. The stock has a market capitalization of $185.90 million, a PE ratio of -9.25 and a beta of 1.67.

Equillium (NASDAQ:EQ) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). On average, equities analysts expect that Equillium will post -0.24 earnings per share for the current year.

Insider Transactions at Equillium

In other Equillium news, COO Christine Zedelmayer sold 181,219 shares of Equillium stock in a transaction on Monday, March 9th. The stock was sold at an average price of $2.00, for a total transaction of $362,438.00. Following the completion of the transaction, the chief operating officer owned 62,586 shares in the company, valued at approximately $125,172. The trade was a 74.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Virtu Financial LLC raised its stake in shares of Equillium by 133.4% in the third quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock worth $34,000 after purchasing an additional 13,591 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Equillium in the first quarter worth $31,000. State Street Corp raised its stake in shares of Equillium by 13.0% in the fourth quarter. State Street Corp now owns 155,420 shares of the company’s stock worth $241,000 after purchasing an additional 17,900 shares during the last quarter. Persistent Asset Partners Ltd raised its stake in shares of Equillium by 35.0% in the fourth quarter. Persistent Asset Partners Ltd now owns 93,123 shares of the company’s stock worth $144,000 after purchasing an additional 24,132 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Equillium in the third quarter worth $35,000. Hedge funds and other institutional investors own 27.05% of the company’s stock.

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.