Equillium (NASDAQ:EQ) Posts Earnings Results

Equillium (NASDAQ:EQ) issued its quarterly earnings data on Thursday. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01, FiscalAI reports.

Equillium Stock Down 7.0%

NASDAQ EQ traded down $0.10 during midday trading on Thursday, hitting $1.32. The company had a trading volume of 163,581 shares, compared to its average volume of 600,940. The stock has a market cap of $83.70 million, a price-to-earnings ratio of -6.60 and a beta of 2.08. The firm has a fifty day simple moving average of $1.63 and a two-hundred day simple moving average of $2.08. Equillium has a fifty-two week low of $0.76 and a fifty-two week high of $3.54.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EQ shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Equillium in a research note on Monday, September 21st. Clear Str upgraded shares of Equillium to a “strong-buy” rating in a report on Tuesday, July 21st. Zacks Research raised Equillium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Roth Capital reiterated a “buy” rating on shares of Equillium in a research note on Monday, October 26th. Finally, Leerink Partners started coverage on Equillium in a research report on Monday, October 12th. They set an “outperform” rating and a $6.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.57.

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.