Brokerages Set Equillium, Inc. (NASDAQ:EQ) PT at $7.57

Equillium, Inc. (NASDAQ:EQ) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $7.5714.

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Equillium from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Leerink Partners raised shares of Equillium from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $1.00 to $6.00 in a report on Thursday, May 28th. B. Riley Financial initiated coverage on shares of Equillium in a research report on Thursday, April 16th. They set a “buy” rating and a $6.00 target price on the stock. Roth Capital reiterated a “buy” rating and set a $12.00 target price on shares of Equillium in a research report on Thursday, May 28th. Finally, Clear Str raised shares of Equillium to a “strong-buy” rating in a research note on Tuesday, July 21st.

Insider Buying and Selling at Equillium

In other Equillium news, insider Stephen Connelly sold 30,975 shares of Equillium stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $2.94, for a total transaction of $91,066.50. Following the sale, the insider directly owned 762,025 shares of the company’s stock, valued at approximately $2,240,353.50. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Penny Tom sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $2.95, for a total value of $191,750.00. Following the completion of the sale, the insider owned 65,000 shares in the company, valued at approximately $191,750. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 406,392 shares of company stock valued at $1,224,898. 17.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Equillium

Large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its holdings in shares of Equillium by 10.8% in the 1st quarter. Janus Henderson Group PLC now owns 6,494,571 shares of the company’s stock worth $12,957,000 after purchasing an additional 632,359 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in Equillium during the 1st quarter valued at about $2,453,000. Eversept Partners LP bought a new stake in Equillium during the first quarter worth about $2,998,000. OMERS ADMINISTRATION Corp bought a new stake in Equillium during the first quarter worth about $100,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Equillium during the first quarter worth approximately $31,000. 27.05% of the stock is currently owned by institutional investors.

Equillium Trading Down 2.2%

Shares of NASDAQ:EQ opened at $2.18 on Monday. Equillium has a 1-year low of $0.76 and a 1-year high of $3.54. The firm has a market capitalization of $137.84 million, a PE ratio of -6.81 and a beta of 1.82. The business’s 50 day moving average is $2.69 and its 200-day moving average is $2.22.

Equillium (NASDAQ:EQ) last issued its earnings results on Wednesday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). On average, sell-side analysts predict that Equillium will post -0.24 EPS for the current 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.