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

Shares of Equillium, Inc. (NASDAQ:EQ) have been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $7.57.

A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Equillium in a research report on Monday, September 21st. Piper Sandler began coverage on Equillium in a research note on Monday, July 13th. They set an “overweight” rating on the stock. Clear Str upgraded Equillium to a “strong-buy” rating in a research note on Tuesday, July 21st. Wall Street Zen lowered Equillium from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Finally, Zacks Research upgraded Equillium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th.

Hedge Funds Weigh In On Equillium

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jupiter Topco LLC purchased a new stake in Equillium during the 2nd quarter worth approximately $20,685,000. Janus Henderson Group PLC raised its holdings in shares of Equillium by 10.8% in the first quarter. Janus Henderson Group PLC now owns 6,494,571 shares of the company’s stock worth $12,957,000 after buying an additional 632,359 shares during the last quarter. ADAR1 Capital Management LLC purchased a new position in shares of Equillium in the second quarter worth $12,027,000. Eversept Partners LP acquired a new stake in shares of Equillium during the first quarter worth $2,998,000. Finally, Affinity Asset Advisors LLC acquired a new stake in shares of Equillium during the first quarter worth $2,453,000. 27.05% of the stock is owned by hedge funds and other institutional investors.

Equillium Price Performance

EQ opened at $1.45 on Tuesday. The business’s 50-day moving average is $2.11 and its two-hundred day moving average is $2.32. Equillium has a 1 year low of $0.76 and a 1 year high of $3.54. The firm has a market capitalization of $91.94 million, a PE ratio of -7.25 and a beta of 1.93.

Equillium (NASDAQ:EQ) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. As a group, sell-side analysts expect that Equillium will post -0.21 EPS 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’s approach centers on modulating immune pathways involved in disease progression, with the goal of addressing conditions that have limited treatment options.

Equillium’s lead product candidate is itolizumab, a monoclonal antibody that targets CD6, an immune-cell receptor involved in the regulation of T-cell activity. The company is evaluating itolizumab in immune-mediated conditions, including acute graft-versus-host disease and lupus nephritis.