In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Equillium (EQ), with a price target of $22.00. The company’s shares closed last Thursday at $6.84.
According to TipRanks.com, Selvaraju is a 5-star analyst with an average return of 26.4% and a 55.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Turning Point Therapeutics, and Biospecifics Technologies.
Equillium has an analyst consensus of Strong Buy, with a price target consensus of $19.00, representing a 175.8% upside. In a report issued on August 12, Stifel Nicolaus also reiterated a Buy rating on the stock with a $14.00 price target.
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Based on Equillium’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $7.84 million. In comparison, last year the company had a GAAP net loss of $6.07 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.
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