Leerink Partners Thinks Equillium’s Stock is Going to Recover

In a report issued on June 11, Thomas Smith from Leerink Partners maintained a Buy rating on Equillium (EQ). The company’s shares closed last Monday at $5.99, close to its 52-week low of $2.53.

According to TipRanks.com, Smith is ranked 0 out of 5 stars with an average return of -6.0% and a 34.5% success rate. Smith covers the Healthcare sector, focusing on stocks such as Connect Biopharma Holdings, Madrigal Pharmaceuticals, and Eledon Pharmaceuticals.

Equillium has an analyst consensus of Strong Buy, with a price target consensus of $12.50, implying a 102.9% upside from current levels. In a report issued on June 7, H.C. Wainwright also reiterated a Buy rating on the stock with a $12.00 price target.

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The company has a one-year high of $27.05 and a one-year low of $2.53. Currently, Equillium has an average volume of 168.2K.

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Equillium, Inc. is a biotechnology company, which engages in the development of products for severe immuno-inflammatory disorders with high unmet medical need. Its product pipeline include EQ001, is a monoclonal antibody that selectively targets the novel immune checkpoint receptor CD6. The company was founded by Daniel Mark Bradbury, Bruce D. Steel, and Stephen Connelly on March 16, 2017 and is headquartered in La Jolla, CA.

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