Equillium (EQ) Receives a Rating Update from a Top Analyst

By Carrie Williams

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Equillium (EQResearch Report) today and set a price target of $12.00. The company’s shares closed last Monday at $9.33.

According to TipRanks.com, Selvaraju is a top 25 analyst with an average return of 62.1% and a 86.1% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Protalix Biotherapeutics, NeuroBo Pharmaceuticals, and Inovio Pharmaceuticals.

Currently, the analyst consensus on Equillium is a Strong Buy with an average price target of $14.67.

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Based on Equillium’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $6.6 million. In comparison, last year the company had a GAAP net loss of $6.01 million.

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Equillium, Inc. is a biotechnology company, which engages in the development of products for severe immuno-inflammatory disorders with high unmet medical need. Its product pipeline include EQ001, is a monoclonal antibody that selectively targets the novel immune checkpoint receptor CD6. The company was founded by Daniel Mark Bradbury, Bruce D. Steel, and Stephen Connelly on March 16, 2017 and is headquartered in La Jolla, CA.