Leerink Partnrs Increases Earnings Estimates for Equillium

Equillium, Inc. (NASDAQ:EQ) – Equities research analysts at Leerink Partnrs upped their FY2024 earnings per share estimates for Equillium in a research note issued on Wednesday, November 13th. Leerink Partnrs analyst T. Smith now anticipates that the company will post earnings per share of ($0.34) for the year, up from their previous forecast of ($0.61). The consensus estimate for Equillium’s current full-year earnings is ($0.12) per share. Leerink Partnrs also issued estimates for Equillium’s Q4 2024 earnings at ($0.27) EPS and FY2025 earnings at ($1.50) EPS.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Equillium in a research report on Monday, August 19th.

Equillium Stock Performance

Shares of NASDAQ EQ opened at $0.70 on Monday. The business’s 50-day simple moving average is $0.90 and its 200-day simple moving average is $0.95. Equillium has a 52 week low of $0.48 and a 52 week high of $3.25. The firm has a market cap of $24.80 million, a price-to-earnings ratio of -5.00 and a beta of 1.83.

Institutional Investors Weigh In On Equillium

An institutional investor recently raised its position in Equillium stock. Renaissance Technologies LLC grew its stake in shares of Equillium, Inc. (NASDAQ:EQ) by 43.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 300,400 shares of the company’s stock after buying an additional 91,200 shares during the period. Renaissance Technologies LLC owned approximately 0.85% of Equillium worth $208,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 27.05% of the company’s stock.

Insider Activity at Equillium

In other Equillium news, insider Penny Tom sold 38,806 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $0.85, for a total value of $32,985.10. Following the sale, the insider now owns 10,051 shares of the company’s stock, valued at $8,543.35. This trade represents a 79.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last three months, insiders have sold 77,324 shares of company stock worth $71,233. 30.30% of the stock is owned by insiders.

Equillium Company Profile

Equillium, Inc, a clinical-stage biotechnology company, develops and sells products to treat severe autoimmune and inflammatory, or immuno-inflammatory disorders with unmet medical need. The company's lead product candidate is itolizumab (EQ001), a first-in-class monoclonal antibody that targets the immune checkpoint receptor CD6, which is in Phase III clinical trials for the treatment of acute graft-versus-host disease; completed Phase I clinical trial for the treatment of ulcerative colitis; and Phase I clinical trial for the treatment of lupus nephritis.