Equillium initiated with a Buy at Roth Capital

Roth Capital initiated coverage of Equillium (EQ) with a Buy rating and $12 price target The company’s EQ504 is a colon-targeted oral pill entering Phase 1 for ulcerative colitis, a $12B market, the analyst tells investors in a research note. The firm says Equillium is employing a validated mechanism while the shares are being priced like it has an unproven asset.