How does EQ's PS Ratio compare to its peers?

EQ is good value based on its Price-To-Sales Ratio (0.5x) compared to the peer average (3x).

How does EQ's PS Ratio compare vs other companies in the US Biotechs Industry?

EQ is good value based on its Price-To-Sales Ratio (0.5x) compared to the US Biotechs industry average (9.9x).

What is EQ's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EQ is good value based on its Price-To-Sales Ratio (0.5x) compared to the estimated Fair Price-To-Sales Ratio (2.1x).

What is the Fair Price of EQ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Insufficient data to calculate EQ's fair value for valuation analysis.

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

EQ Stock Overview

A clinical-stage biotechnology company, develops and sells products to treat severe autoimmune and inflammatory, or immuno-inflammatory disorders with unmet medical need. More details

EQ fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	0/6
Financial Health	5/6
Dividends	0/6

Rewards

Earnings have grown 9% per year over the past 5 years

Trading at good value compared to peers and industry

Risk Analysis

Highly volatile share price over the past 3 months compared to the US market

Earnings are forecast to decline by an average of 28.2% per year for the next 3 years

Has less than 1 year of cash runway

Currently unprofitable and not forecast to become profitable over the next 3 years

+ 1 more risk

My Notes

Capture your thoughts, links and company narrative

Equillium, Inc. Competitors

CervoMed

NasdaqCM:CRVO

US$18.4m

GeoVax Labs

NasdaqCM:GOVX

US$21.6m

Carisma Therapeutics

NasdaqGM:CARM

US$17.4m

Spruce Biosciences

NasdaqCM:SPRB

US$16.5m

Price History & Performance

Summary of share price highs, lows and changes for Equillium
Historical stock prices
Current Share Price	US$0.61
52 Week High	US$3.25
52 Week Low	US$0.56
Beta	1.78
1 Month Change	-14.49%
3 Month Change	-23.90%
1 Year Change	-7.46%
3 Year Change	-86.46%
5 Year Change	-84.91%
Change since IPO	-95.66%

Why Investors Shouldn't Be Surprised By Equillium, Inc.'s (NASDAQ:EQ) 35% Share Price Plunge

Nov 16

Recent updates

Why Investors Shouldn't Be Surprised By Equillium, Inc.'s (NASDAQ:EQ) 35% Share Price Plunge

Nov 16

Earnings Release: Here's Why Analysts Cut Their Equillium, Inc. (NASDAQ:EQ) Price Target To US$6.06

Aug 12

Broker Revenue Forecasts For Equillium, Inc. (NASDAQ:EQ) Are Surging Higher

May 03

Does Equillium (NASDAQ:EQ) Have A Healthy Balance Sheet?

Mar 26

Equillium GAAP EPS of -$0.41 in-line

Aug 15

Equillium CEO Bruce Steel - Drugs For Autoimmune, Inflammatory Disorders (Video)

Oct 08

Is Equillium, Inc.'s (NASDAQ:EQ) Shareholder Ownership Skewed Towards Insiders?

Mar 09

Equillium prices $30M registered direct offering

Feb 04

Equillium (EQ) Investor Presentation - Slideshow

Dec 04

How Much Of Equillium, Inc. (NASDAQ:EQ) Do Insiders Own?

Nov 24

FDA gives green signal to Equillium's late-stage COVID-19 trial

Oct 30

Shareholder Returns

	EQ	US Biotechs	US Market
7D	-13.7%	-3.6%	-2.4%
1Y	-7.5%	-2.6%	23.4%

Return vs Industry: EQ underperformed the US Biotechs industry which returned -2.6% over the past year.

Return vs Market: EQ underperformed the US Market which returned 23.4% over the past year.

Price Volatility

Is EQ's price volatile compared to industry and market?
EQ volatility
EQ Average Weekly Movement	17.4%
Biotechs Industry Average Movement	10.8%
Market Average Movement	6.3%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	3.1%

Stable Share Price: EQ's share price has been volatile over the past 3 months compared to the US market.

Volatility Over Time: EQ's weekly volatility (17%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
2017	45	Bruce Steel	www.equilliumbio.com

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. It also develops EQ101 completed phase 1/2 for treatment of cutaneous T cell lymphoma and alopecia areata; and EQ302 to treat gastrointestinal indications.

Equillium, Inc. Fundamentals Summary

How do Equillium's earnings and revenue compare to its market cap?
EQ fundamental statistics
Market cap	US$21.54m
Earnings (TTM)	-US$4.61m
Revenue (TTM)	US$45.91m

0.5x

P/S Ratio

-4.7x

P/E Ratio

Is EQ overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
EQ income statement (TTM)
Revenue	US$45.91m
Cost of Revenue	US$0
Gross Profit	US$45.91m
Other Expenses	US$50.53m
Earnings	-US$4.61m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	-0.13
Gross Margin	100.00%
Net Profit Margin	-10.05%
Debt/Equity Ratio	0%

How did EQ perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/22 10:34
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Equillium, Inc. is covered by 8 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Lut Ming Cheng	Cantor Fitzgerald & Co.
Raghuram Selvaraju	H.C. Wainwright & Co.
Biren Amin	Jefferies LLC

EQ Stock Overview

Rewards

Risk Analysis

Equillium, Inc. Competitors

NasdaqCM:CRVO

US$18.4m

NasdaqCM:GOVX

US$21.6m

NasdaqGM:CARM

US$17.4m

NasdaqCM:SPRB

US$16.5m

Price History & Performance

Recent News & Updates

High number of new directors

Equillium, Inc. Announces Board and Committee Changes

Why Investors Shouldn't Be Surprised By Equillium, Inc.'s (NASDAQ:EQ) 35% Share Price Plunge

New major risk - Financial position

Third quarter 2024 earnings released: EPS: US$0 (vs US$0.11 loss in 3Q 2023)

Price target decreased by 49% to US$3.33

Recent updates

High number of new directors

Equillium, Inc. Announces Board and Committee Changes

Why Investors Shouldn't Be Surprised By Equillium, Inc.'s (NASDAQ:EQ) 35% Share Price Plunge

New major risk - Financial position

Third quarter 2024 earnings released: EPS: US$0 (vs US$0.11 loss in 3Q 2023)

Price target decreased by 49% to US$3.33

Consensus revenue estimates fall by 27%

Lacklustre Performance Is Driving Equillium, Inc.'s (NASDAQ:EQ) 28% Price Drop

Consensus revenue estimates increase by 35%

Forecast to breakeven in 2024

New minor risk - Shareholder dilution

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

New major risk - Financial position

New major risk - Share price stability

Equillium, Inc. Announces Positive Interim Analysis from Phase 3 Equator Study of Itolizumab in Acute Graft-Versus-Host Disease

Equillium Receives Non-Compliance Letter from Nasdaq Regarding Minimum Bid Price Requirement

Benign Growth For Equillium, Inc. (NASDAQ:EQ) Underpins Stock's 54% Plummet

Equillium, Inc. Announces Topline Data from Its Phase 2, Single Dose, Proof-Of-Concept Study of Eq101

Equillium, Inc. Announces Interim Enrollment Achieved in Phase 3 EQUATOR Study of Itolizumab in Acute Graft-Versus-Host Disease

New minor risk - Profitability

Forecast to breakeven in 2024

First quarter 2024 earnings released: US$0.078 loss per share (vs US$0.11 loss in 1Q 2023)

We Think Equillium (NASDAQ:EQ) Needs To Drive Business Growth Carefully

Price target increased by 9.5% to US$6.75

Equillium Announces Positive Topline Data from the Type B Portion of the Phase 1B Equalise Study of Itolizumab in Lupus Nephritis

Consensus EPS estimates fall by 188%

Little Excitement Around Equillium, Inc.'s (NASDAQ:EQ) Revenues

New major risk - Share price stability

Equillium Announces Update on Multi-Cytokine Inhibitors EQ101 & EQ102 in Development for Alopecia Areata and Celiac Disease

New minor risk - Share price stability

Price target decreased by 10% to US$6.17

Equillium, Inc. Presents Positive Data from Phase 1B EQUALISE Study At the 2023 Annual Meeting of the American College of Rheumatology

Equillium Announces Data from Phase 1b EQUALISE Study Presented at the 2023 Annual Meeting of the American Society of Nephrology

Equillium Gets an Additional 180-Day Grace Period to Regain Compliance with the Minimum Bid Price Requirement

Consensus revenue estimates increase by 23%

Analyst Forecasts For Equillium, Inc. (NASDAQ:EQ) Are Surging Higher

Earnings Release: Here's Why Analysts Cut Their Equillium, Inc. (NASDAQ:EQ) Price Target To US$6.06

Equillium, Inc. Promotes Maple Fung to the Position of Chief Medical Officer

Equillium, Inc. (NasdaqGM:EQ) announces an Equity Buyback for $7.5 million worth of its shares.

Consensus revenue estimates increase by 187%

Broker Revenue Forecasts For Equillium, Inc. (NASDAQ:EQ) Are Surging Higher

Consensus revenue estimates increase by 17%

Does Equillium (NASDAQ:EQ) Have A Healthy Balance Sheet?

Biocon Limited in Collaboration with Equillium, Inc. Initiate Phase 2 Clinical Study of Itolizumab in Patients with Ulcerative Colitis

Price target decreased to US$12.00

Insufficient new directors

Equillium, Inc. Announces Initiation of Phase 2 Study of Eq101 A First-In-Class Multi-Cytokine Inhibitor of Il-2, Il-9 and Il-15 Targeting Alopecia Areata

Equillium Announces Initiation of Phase 1 study of EQ102, A First-in-Class Multi-Cytokine Inhibitor of IL-15 and IL-21 Targeting Celiac Disease

Price target decreased to US$12.00

Price target increased to US$14.00

Equillium, Inc. Reports Interim Results from the Type B Portion of the EQUALIZE Study Evaluating Itolizumab

Equillium, Inc. (NasdaqGM:EQ) entered into a definitive merger agreement to acquire Metacrine, Inc. (NasdaqCM:MTCR).

Equillium GAAP EPS of -$0.41 in-line

Insufficient new directors

Price target increased to US$13.75

Equillium, Inc., Annual General Meeting, May 24, 2022

Equillium, Inc. Announces Initiation of the Phase 3 EQUATOR Study of Itolizumab in First-line Acute Graft-Versus-Host Disease

Equillium, Inc. Appoints Barbara Troupin to its Board of Directors and as Member of Nominating and Corporate Governance Committee

Price target decreased to US$12.50