HC Wainwright restated their buy rating on shares of Equillium (NYSE:EQ) in a research note issued to investors on Tuesday morning, AnalystRatings.com reports. They currently have a $14.00 target price on the stock.
“We have assessed Equillium using a risk-adjusted net present value (rNPV) approach driven by a discounted cash flow (DCF) analysis. This yields a $326M total firm value, driven by the future royalty-based revenue from itolizumab in GvHD and asthma. We apply a discount rate of 12% and effective tax rate of 30% to all future cash flows. This translates into a price per share of $14, assuming 22.8M shares outstanding as of mid-2020.”,” HC Wainwright’s analyst wrote.
Separately, Zacks Investment Research raised Equillium from a sell rating to a hold rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $17.75.
Equillium (NYSE:EQ) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.04.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC acquired a new stake in Equillium during the 4th quarter valued at approximately $6,994,000. BlackRock Inc. acquired a new stake in Equillium during the 4th quarter valued at approximately $1,756,000. Victory Capital Management Inc. increased its position in Equillium by 7.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,323,381 shares of the company’s stock valued at $10,587,000 after purchasing an additional 90,792 shares during the period. Northern Trust Corp acquired a new stake in Equillium during the 4th quarter valued at approximately $298,000. Finally, Geode Capital Management LLC acquired a new stake in Equillium during the 4th quarter valued at approximately $143,000.
Equillium, Inc, a biotechnology company, develops products for autoimmune and inflammatory, or immuno-inflammatory disorders with unmet medical need. Its primary product candidate is EQ001, a clinical-stage monoclonal antibody that targets the novel immune checkpoint receptor CD6, which is in Phase 1b/2 clinical trials for the treatment of acute graft-versus-host disease; and Phase 1 clinical trial for the treatment of asthma and lupus nephritis.
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