Roth Capital Initiates Coverage on Equillium with Buy Rating and $12 Price Target

Equillium, Inc. (NASDAQ:EQ) has been initiated with a Buy rating and a $12 price target by Roth Capital analyst Adam Walsh, suggesting a 458% upside from current levels. The company is developing EQ504, an oral colon-targeted therapy, which is entering Phase 1 trials for ulcerative colitis. Equillium has also entered into a definitive securities purchase agreement with RA Capital Management to raise approximately $35 million in gross proceeds. The company operates as a clinical-stage biotechnology company, developing therapies for severe autoimmune and inflammatory disorders in the United States.