Equillium, Inc. (NASDAQ:EQ) Stock Has Consensus Target Price of $7.57

Shares of Equillium, Inc. (NASDAQ:EQ) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $7.57.

EQ has been the subject of several recent research reports. Piper Sandler initiated coverage on shares of Equillium in a research note on Monday, July 13th. They issued an “overweight” rating for the company. Zacks Research upgraded shares of Equillium from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Wall Street Zen cut shares of Equillium from a “hold” rating to a “sell” rating in a research report on Saturday, September 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Equillium in a research note on Monday, September 21st. Finally, Roth Capital restated a “buy” rating on shares of Equillium in a research note on Monday.

Hedge Funds Weigh In On Equillium

Several hedge funds and other institutional investors have recently made changes to their positions in EQ. Jupiter Topco LLC purchased a new stake in shares of Equillium during the 2nd quarter worth $20,685,000. Janus Henderson Group PLC boosted its position in shares of Equillium by 10.8% during the 1st quarter. Janus Henderson Group PLC now owns 6,494,571 shares of the company’s stock worth $12,957,000 after acquiring an additional 632,359 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in shares of Equillium during the 2nd quarter worth about $12,027,000. Eversept Partners LP purchased a new position in shares of Equillium in the 1st quarter valued at about $2,998,000. Finally, Affinity Asset Advisors LLC purchased a new position in shares of Equillium in the 1st quarter valued at about $2,453,000. Hedge funds and other institutional investors own 27.05% of the company’s stock.

Equillium Stock Performance

EQ stock opened at $1.37 on Friday. The firm has a market cap of $86.87 million, a PE ratio of -6.85 and a beta of 1.93. The firm’s 50 day moving average price is $1.77 and its 200-day moving average price is $2.07. Equillium has a one year low of $0.76 and a one year high of $3.54.

Equillium (NASDAQ:EQ) last posted its earnings results on Thursday, August 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Equities research analysts predict that Equillium will post -0.21 EPS for the current fiscal 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.