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

Zacks Investment Research upgraded shares of Equillium (NYSE:EQ) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. They currently have $4.00 price objective 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. “

Separately, HC Wainwright reiterated a buy rating and issued a $14.00 price target on shares of Equillium in a report on Tuesday, August 13th. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus target price of $15.00.

NYSE:EQ opened at $4.05 on Thursday. The firm’s fifty day simple moving average is $4.86 and its 200 day simple moving average is $6.25. Equillium has a twelve month low of $3.10 and a twelve month high of $19.69.

Equillium (NYSE:EQ) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.04.

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Equillium during the 4th quarter valued at $1,756,000. FMR LLC bought a new stake in shares of Equillium during the 4th quarter valued at $6,994,000. Victory Capital Management Inc. boosted its holdings in shares of Equillium by 7.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,323,381 shares of the company’s stock valued at $10,587,000 after buying an additional 90,792 shares in the last quarter. Northern Trust Corp bought a new stake in shares of Equillium during the 4th quarter valued at $298,000. Finally, Edge Wealth Management LLC bought a new stake in shares of Equillium during the 2nd quarter valued at $40,000.

About Equillium

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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