Equillium, Inc. (NASDAQ:EQ) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Equillium, Inc. (NASDAQ:EQ) have received an average rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $7.5714.

EQ has been the subject of a number of research reports. Roth Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Equillium in a report on Thursday, May 28th. Clear Str raised Equillium to a “strong-buy” rating in a research report on Tuesday, July 21st. Leerink Partners upgraded Equillium from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $1.00 to $6.00 in a report on Thursday, May 28th. Wall Street Zen raised Equillium from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Piper Sandler began coverage on Equillium in a research note on Monday, July 13th. They set an “overweight” rating on the stock.

Equillium Price Performance

Equillium stock opened at $2.22 on Friday. The stock has a market cap of $140.77 million, a price-to-earnings ratio of -11.10 and a beta of 1.81. The firm has a 50-day moving average of $2.50 and a two-hundred day moving average of $2.32. Equillium has a 1 year low of $0.76 and a 1 year high of $3.54.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC increased its position in Equillium by 10.8% during the 1st quarter. Janus Henderson Group PLC now owns 6,494,571 shares of the company’s stock valued at $12,957,000 after purchasing an additional 632,359 shares during the period. Jupiter Topco LLC bought a new stake in shares of Equillium in the 2nd quarter valued at about $20,685,000. ADAR1 Capital Management LLC lifted its position in shares of Equillium by 0.9% in the 4th quarter. ADAR1 Capital Management LLC now owns 5,608,078 shares of the company’s stock worth $8,693,000 after purchasing an additional 48,090 shares during the period. Woodline Partners LP purchased a new stake in shares of Equillium in the 3rd quarter worth approximately $5,018,000. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Equillium by 3.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,076,250 shares of the company’s stock valued at $3,218,000 after purchasing an additional 72,602 shares in the last quarter. 27.05% of the stock is currently owned by institutional investors.

Equillium Company Profile

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.