Equillium price target lowered to $4 from $4.50 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Equillium to $4 from $4.50 and keeps a Buy rating on the shares. The company reported clinical progress with EQ101 but the EQ102 discontinuation extends the timeline in celiac disease, the analyst tells investors in a research note. Equillium intends to replace EQ102 with EQ302 – a dual-function, stapled peptide targeting both IL-15 and IL-21 – but this will extend the timeline to potential regulatory approval in celiac disease by roughly two years, to 2029, says the firm.