Equillium, Inc. (NASDAQ:EQ) Stock Has Average Price Target of $7.57 According to Brokerages

Shares of Equillium, Inc. (NASDAQ:EQ) have received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.57.

Several research analysts recently commented on the stock. Piper Sandler initiated coverage on shares of Equillium in a research note on Monday, July 13th. They set an “overweight” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Equillium in a research report on Monday, September 21st. Clear Str raised Equillium to a “strong-buy” rating in a research report on Tuesday, July 21st. Leerink Partners assumed coverage on Equillium in a report on Monday, October 12th. They set an “outperform” rating and a $6.00 price objective for the company. Finally, Roth Capital reissued a “buy” rating on shares of Equillium in a research report on Monday.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Two Sigma Securities LLC acquired a new stake in shares of Equillium in the second quarter worth $35,000. Coastal Bridge Advisors LLC purchased a new stake in Equillium in the second quarter valued at $48,000. Dimensional Fund Advisors LP purchased a new stake in shares of Equillium in the first quarter worth about $31,000. High Net Worth Advisory Group LLC purchased a new position in Equillium during the second quarter valued at approximately $107,000. Finally, Jefferies Financial Group Inc. acquired a new position in Equillium in the second quarter valued at approximately $109,000. 27.05% of the stock is owned by institutional investors and hedge funds.

Equillium Stock Up 4.4%

Equillium stock opened at $1.42 on Friday. The firm has a market cap of $90.04 million, a P/E ratio of -7.10 and a beta of 1.93. The business has a fifty day moving average of $1.80 and a two-hundred day moving average of $2.07. Equillium has a twelve month low of $0.76 and a twelve month high of $3.54.

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

About Equillium

Equillium, Inc is a clinical-stage biotechnology company focused on developing therapies for severe autoimmune and inflammatory diseases. The company seeks to address immune-system dysregulation by developing treatments that selectively modulate immune-cell activity rather than broadly suppressing the immune system.

Equillium’s lead product candidate is itolizumab, a monoclonal antibody that targets CD6, a protein involved in the activation and trafficking of certain T cells. The company has evaluated itolizumab in conditions including acute graft-versus-host disease and lupus nephritis.