H.C. Wainwright Thinks Equillium Inc’s Stock is Going to Recover

By Ryan Adsit

In a report released today, Ram Selvaraju from H.C. Wainwright initiated coverage with a Buy rating on Equillium Inc (EQResearch Report) and a price target of $14. The company’s shares closed yesterday at $5.50, close to its 52-week low of $5.12.

According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 3.2% and a 30.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Equillium Inc with a $14 average price target.

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The company has a one-year high of $19.69 and a one-year low of $5.12. Currently, Equillium Inc has an average volume of 32.68K.

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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.