Thursday, 18 April 2024

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Buy Rating Affirmed for Equillium on Strong Clinical Data and Potential Financial Upsides – TipRanks Financial Blog

Pasithea Therapeutics Corp trading halted, news pending

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Leerink Partners analyst Thomas Smith has maintained their bullish stance on EQ stock, giving a Buy rating yesterday.

Thomas Smith has given his Buy rating due to a combination of factors surrounding Equillium’s promising clinical data and potential financial catalysts. The data from the Phase 1b EQUALISE study of itolizumab in lupus nephritis (LN) showed significant reductions in proteinuria and strong overall response rates, which compare favorably to competing treatments. Furthermore, the ability of patients to taper off systemic corticosteroids while on itolizumab without an increase in adverse events underscores the drug’s efficacy and safety profile.
Additionally, the upcoming decision by Ono Pharmaceutical to possibly exercise its option for itolizumab represents a substantial financial opportunity for Equillium, which could enhance the company’s capital resources. Smith also anticipates that the Phase 2 trial data for EQ101 in alopecia areata (AA) could substantially boost the intrinsic value of Equillium’s shares if the results are positive, thereby providing another reason for the Buy rating.

According to TipRanks, Smith is a top 100 analyst with an average return of 39.8% and a 48.19% success rate. Smith covers the Healthcare sector, focusing on stocks such as Argenx Se, Celldex, and Madrigal Pharmaceuticals.

In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $5.00 price target.

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Equillium (EQ) Company Description:

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.

Click Here to Read the Full Original Article at TipRanks Financial Blog…


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