Equillium (NASDAQ:EQ) Research Coverage Started at B. Riley Financial
by Scott Moore · The Cerbat GemB. Riley Financial initiated coverage on shares of Equillium (NASDAQ:EQ – Free Report) in a report published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $6.00 price target on the stock.
A number of other analysts have also recently weighed in on EQ. Stifel Nicolaus started coverage on shares of Equillium in a report on Wednesday, February 25th. They set a “buy” rating and a $5.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Equillium in a report on Friday, March 27th. Wall Street Zen upgraded Equillium from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Zacks Research raised Equillium to a “hold” rating in a research note on Thursday, February 26th. Finally, Cantor Fitzgerald began coverage on Equillium in a report on Tuesday, April 7th. They issued an “overweight” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Equillium has a consensus rating of “Moderate Buy” and an average target price of $7.80.
Get Our Latest Research Report on EQ
Equillium Trading Up 3.5%
NASDAQ:EQ opened at $2.05 on Thursday. Equillium has a twelve month low of $0.27 and a twelve month high of $2.70. The company has a 50-day moving average of $1.89 and a 200-day moving average of $1.47. The firm has a market cap of $129.62 million, a price-to-earnings ratio of -4.10 and a beta of 1.75.
Equillium (NASDAQ:EQ – Get Free Report) last released its earnings results on Wednesday, March 25th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. On average, research analysts forecast that Equillium will post 0.14 earnings per share for the current year.
Insider Buying and Selling at Equillium
In other news, COO Christine Zedelmayer sold 185,937 shares of Equillium stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $1.76, for a total value of $327,249.12. Following the transaction, the chief operating officer directly owned 191,444 shares of the company’s stock, valued at $336,941.44. This trade represents a 49.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 487,468 shares of company stock valued at $990,467 over the last quarter. Company insiders own 31.60% of the company’s stock.
Hedge Funds Weigh In On Equillium
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQ. Virtu Financial LLC boosted its stake in Equillium by 133.4% in the 3rd 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 period. Millennium Management LLC acquired a new stake in Equillium during the 3rd quarter valued at $35,000. Persistent Asset Partners Ltd purchased a new stake in shares of Equillium in the third quarter valued at $99,000. Royal Bank of Canada purchased a new stake in shares of Equillium in the fourth quarter valued at $124,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Equillium in the third quarter worth $174,000. Institutional investors and hedge funds 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.