Equillium Inc (EQ)
NASDAQ:EQ
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Equillium
(NASDAQ:EQ)
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Rating:53Neutral
Price Target:
$3.00
▲(46.34% Upside)
Action:Reiterated
Date:06/04/26
The score is weighed down primarily by deteriorated financial performance (near-zero TTM revenue, persistent losses, and significant cash burn). This is partially offset by strong technical momentum and a positive financing event that improves runway, while valuation remains constrained by ongoing unprofitability and lack of dividend support.
Positive Factors
Low leverage
Very low debt-to-equity (~0.01) provides durable financial flexibility: the company can fund operations without interest burdens, preserving cash for R&D and allowing future financings to focus on equity or partnerships rather than servicing debt. This reduces bankruptcy risk relative to leveraged peers.
Negative Factors
Revenue collapse
Near-zero trailing revenues eliminate internal cash generation and shift the firm's economics to pure R&D spending. Without commercial sales or recurring partner receipts, the company remains binary on clinical success and licensing, increasing long-term financing and execution risk for sustained operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
Very low debt-to-equity (~0.01) provides durable financial flexibility: the company can fund operations without interest burdens, preserving cash for R&D and allowing future financings to focus on equity or partnerships rather than servicing debt. This reduces bankruptcy risk relative to leveraged peers.
Read all positive factors
Equillium (EQ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$176.40M
Dividend YieldN/A
Average Volume (3M)883.61K
Price to Earnings (P/E)―
Beta (1Y)-0.23
Revenue Growth-100.00%
EPS Growth18.25%
CountryUS
Employees35
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.38
Shares Outstanding63,226,555
10 Day Avg. Volume862,141
30 Day Avg. Volume883,611
Financial Highlights & Ratios
PEG Ratio-0.09
Price to Book (P/B)4.98
Price to Sales (P/S)0.00
P/FCF Ratio-6.25
Enterprise Value/Market Cap0.24
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-536.48
Enterprise Value/Ebitda-2.09
Forecast
1Y Price Target
$7.57Price Target Upside269.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-0.24
Revenue Forecast (FY)N/A
Equillium Business Overview & Revenue Model
Company Description
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),...
How the Company Makes Money
Equillium does not have a broadly disclosed, established product-sales business model; as a clinical-stage biotech, it typically funds operations primarily through external financing rather than recurring commercial revenue. Material revenue, to t...
Equillium Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 41.09M | 36.08M | 15.76M | 0.00 |
| Gross Profit | -79.00K | 0.00 | 41.09M | 36.08M | 15.76M | -72.00K |
| EBITDA | -20.27M | -23.52M | -7.57M | -12.14M | -61.26M | -37.91M |
| Net Income | -19.05M | -22.40M | -8.07M | -13.34M | -62.43M | -38.98M |
Balance Sheet | ||||||
| Total Assets | 63.08M | 31.89M | 25.60M | 50.53M | 78.42M | 85.41M |
| Cash, Cash Equivalents and Short-Term Investments | 61.32M | 30.28M | 22.57M | 40.87M | 71.02M | 80.71M |
| Total Debt | 692.00K | 719.00K | 384.00K | 824.00K | 10.19M | 11.79M |
| Total Liabilities | 3.60M | 3.29M | 6.54M | 27.96M | 46.48M | 18.90M |
| Stockholders Equity | 59.49M | 28.60M | 19.06M | 22.57M | 31.94M | 66.50M |
Cash Flow | ||||||
| Free Cash Flow | -18.93M | -22.79M | -19.11M | -21.83M | -9.01M | -32.14M |
| Operating Cash Flow | -18.88M | -22.75M | -19.03M | -21.78M | -8.73M | -32.08M |
| Investing Cash Flow | -35.00K | 4.46M | 13.81M | -4.76M | 18.68M | 27.41M |
| Financing Cash Flow | 65.68M | 30.43M | 164.00K | -9.23M | -1.22M | 31.06M |
Equillium Technical Analysis
Positive
2.05
Price Trends
2.16
Positive
1.90
Positive
1.63
Positive
Market Momentum
0.23
Negative
66.67
Neutral
83.05
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EQ, the sentiment is Positive. The current price of 2.05 is below the 20-day moving average (MA) of 2.39, below the 50-day MA of 2.16, and above the 200-day MA of 1.63, indicating a bullish trend. The MACD of 0.23 indicates Negative momentum. The RSI at 66.67 is Neutral, neither overbought nor oversold. The STOCH value of 83.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EQ.
Equillium Risk Analysis
Equillium disclosed 83 risk factors in its most recent earnings report. Equillium reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Equillium Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $92.02M | ― | -63.24% | ― | -24.34% | 83.13% | |
53 Neutral | $176.40M | -15.71 | -61.43% | ― | -100.00% | 18.25% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $278.76M | -3.88 | -118.24% | ― | 138.86% | 42.14% | |
50 Neutral | $167.38M | -5.33 | 107.73% | ― | ― | 36.33% | |
48 Neutral | $404.82M | -2.31 | 275.30% | ― | 49.94% | 44.76% |
* Healthcare Sector Average
EQ
Equillium
3.11
2.74
742.82%
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HYFT
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1.80
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PRLD
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Equillium Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder MeetingsStock Split
Equillium Shareholders Approve Reverse Split and Capital Changes
Neutral
May 29, 2026
On May 28, 2026, Equillium, Inc. held its 2026 annual meeting of stockholders, with approximately 85.86% of outstanding shares represented in person or by proxy, and shareholders elected Charles McDermott and Bruce Steel as Class II directors to s...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Equillium Raises Capital Through Private Equity Securities Sale
Positive
Mar 13, 2026
On March 11, 2026, Equillium, Inc. entered into a securities purchase agreement with RA Capital Healthcare Fund, L.P. for a private placement of 1,179,508 common shares and a pre-funded warrant for up to 17,698,593 additional shares, priced off th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.