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

Shares of Equillium, Inc. (NASDAQ:EQ) have earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $7.5714.

A number of analysts have weighed in on EQ shares. Cantor Fitzgerald started coverage on shares of Equillium in a research report on Tuesday, April 7th. They issued an “overweight” rating and a $10.00 target price on the stock. Zacks Research cut Equillium from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Raymond James Financial reiterated a “strong-buy” rating and issued a $7.00 price target on shares of Equillium in a research note on Thursday, May 28th. B. Riley Financial initiated coverage on Equillium in a report on Thursday, April 16th. They set a “buy” rating and a $6.00 price objective on the stock. Finally, Piper Sandler assumed coverage on Equillium in a research report on Monday, July 13th. They set an “overweight” rating on the stock.

Equillium Stock Performance

Shares of Equillium stock opened at $2.47 on Thursday. The firm has a 50-day moving average of $2.72 and a 200-day moving average of $2.09. Equillium has a 52-week low of $0.36 and a 52-week high of $3.54. The stock has a market cap of $156.18 million, a PE ratio of -7.72 and a beta of 1.77.

Equillium (NASDAQ:EQ) last released its earnings results on Wednesday, May 13th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Equities research analysts predict that Equillium will post -0.24 earnings per share for the current fiscal year.

Insider Activity

In other Equillium news, COO Christine Zedelmayer sold 14,584 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $2.93, for a total transaction of $42,731.12. Following the sale, the chief operating officer directly owned 62,586 shares of the company’s stock, valued at $183,376.98. The trade was a 18.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Penny Tom sold 65,000 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $2.95, for a total transaction of $191,750.00. Following the completion of the sale, the insider directly owned 65,000 shares in the company, valued at approximately $191,750. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, 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.

Hedge Funds Weigh In On Equillium

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC lifted 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 valued at $12,957,000 after acquiring an additional 632,359 shares during the period. ADAR1 Capital Management LLC increased its stake in Equillium by 0.9% in the fourth quarter. ADAR1 Capital Management LLC now owns 5,608,078 shares of the company’s stock valued at $8,693,000 after purchasing an additional 48,090 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Equillium during the third quarter valued at about $5,018,000. Aberdeen Group plc raised its holdings in shares of Equillium by 523.6% during the fourth quarter. Aberdeen Group plc now owns 2,366,688 shares of the company’s stock valued at $3,668,000 after purchasing an additional 1,987,162 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of Equillium by 3.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,076,250 shares of the company’s stock worth $3,218,000 after purchasing an additional 72,602 shares in the last quarter. Institutional investors and hedge funds own 27.05% of the company’s stock.

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.