Equillium, Inc. (NASDAQ:EQ) Receives $7.57 Average Price Target from Analysts

Shares of Equillium, Inc. (NASDAQ:EQ) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $7.5714.

A number of equities research analysts have issued reports on EQ shares. Zacks Research raised shares of Equillium from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Leerink Partners raised shares of Equillium from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $1.00 to $6.00 in a report on Thursday, May 28th. Raymond James Financial reiterated a “strong-buy” rating and issued a $7.00 target price on shares of Equillium in a research report on Thursday, May 28th. Wall Street Zen raised Equillium from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Stifel Nicolaus set a $5.00 price target on Equillium in a report on Thursday, May 28th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC bought a new stake in shares of Equillium in the 2nd quarter worth about $35,000. Coastal Bridge Advisors LLC bought a new position in shares of Equillium during the second quarter valued at approximately $48,000. Dimensional Fund Advisors LP purchased a new stake in shares of Equillium in the first quarter worth approximately $31,000. Virtu Financial LLC grew its position in Equillium by 133.4% in the 3rd quarter. Virtu Financial LLC now owns 23,779 shares of the company’s stock valued at $34,000 after acquiring an additional 13,591 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Equillium in the third quarter worth $35,000. Hedge funds and other institutional investors own 27.05% of the company’s stock.

Equillium Stock Performance

NASDAQ:EQ opened at $2.42 on Friday. The stock has a 50-day simple moving average of $2.43 and a two-hundred day simple moving average of $2.34. The firm has a market capitalization of $153.45 million, a PE ratio of -12.10 and a beta of 1.81. Equillium has a 52-week low of $0.76 and a 52-week high of $3.54.

Equillium (NASDAQ:EQ) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Equities analysts forecast that Equillium will post -0.21 earnings per share for the current fiscal year.

About Equillium

Equillium, Inc (NASDAQ: EQ) is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies to treat severe autoimmune diseases and prevent organ transplant rejection. The company’s lead therapeutic candidate, EQ001 (itolizumab), is a humanized monoclonal antibody that modulates T-cell activation by targeting the CD6 receptor. Equillium’s pipeline also includes additional biologic candidates aimed at addressing indications such as acute graft-versus-host disease (GVHD) and lupus nephritis.

Founded in 2015 and headquartered in La Jolla, California, Equillium in-licensed itolizumab from Biocon Limited, leveraging the antibody’s established safety profile in earlier clinical studies.