Equillium (NYSE:EQ) Raised to Buy at Zacks Investment Research
Equillium (NYSE:EQ) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, Zacks.com reports. The brokerage presently has a $4.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 7.82% from the stock’s previous close.
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. “
Separately, HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Equillium in a research report on Tuesday. Six equities research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus price target of $15.00.
Equillium (NYSE:EQ) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.04.
A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. increased its holdings in Equillium by 11.0% during the second quarter. Victory Capital Management Inc. now owns 1,468,727 shares of the company’s stock valued at $8,313,000 after buying an additional 145,346 shares during the last quarter. FMR LLC purchased a new stake in Equillium during the fourth quarter valued at approximately $6,994,000. BlackRock Inc. purchased a new stake in shares of Equillium in the fourth quarter worth $1,756,000. Northern Trust Corp purchased a new stake in shares of Equillium in the fourth quarter worth $298,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Equillium in the second quarter worth $117,000.
Equillium Company Profile
Equillium, Inc, a biotechnology company, develops products for autoimmune and inflammatory, or immuno-inflammatory disorders with unmet medical need. Its primary product candidate is EQ001, 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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