Equillium (NASDAQ:EQ) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Equillium (NASDAQ:EQ) released its quarterly earnings data on Thursday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.06, Zacks reports. Equillium had a negative net margin of 10.05% and a negative return on equity of 20.68%. The firm had revenue of $4.39 million for the quarter.

Equillium Stock Performance

Shares of NASDAQ EQ traded down $0.08 during mid-day trading on Friday, reaching $0.41. 311,719 shares of the company’s stock were exchanged, compared to its average volume of 839,115. Equillium has a 52-week low of $0.37 and a 52-week high of $2.43. The firm has a market capitalization of $14.53 million, a price-to-earnings ratio of -2.93 and a beta of 1.87. The company’s 50-day moving average is $0.76 and its 200-day moving average is $0.80.

Analysts Set New Price Targets

Separately, Leerink Partners reiterated a “market perform” rating and set a $1.00 price target (down from $3.00) on shares of Equillium in a report on Friday.

About Equillium

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.