H.C. Wainwright Reiterates Their Buy Rating on Equillium Inc (EQ)

By Austin Angelo

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Equillium Inc (EQResearch Report) today and set a price target of $14. The company’s shares closed last Monday at $3.56, close to its 52-week low of $3.10.

Selvaraju noted:

“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.”

According to TipRanks.com, Selvaraju ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.7% and a 25.7% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and Stealth Biotherapeutics Corp.

Currently, the analyst consensus on Equillium Inc is a Moderate Buy with an average price target of $14.

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The company has a one-year high of $19.69 and a one-year low of $3.10. Currently, Equillium Inc has an average volume of 35.25K.

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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.