Equillium, Inc. (EQ) AI Stock Analysis

Equillium, Inc. is a clinical-stage biotechnology firm dedicated to developing and commercializing therapies for severe autoimmune and immuno-inflammatory disorders. Central to its pipeline is itolizumab (EQ001), an innovative monoclonal antibody targeting the CD6 immune checkpoint receptor, currently in Phase III clinical trials for acute graft-versus-host disease following Phase Ib trials for asthma and lupus nephritis. The company is also advancing EQ101 for cutaneous T cell lymphoma and alopecia areata, alongside EQ102 aimed at gastrointestinal conditions. Founded as Attenuate Biopharmaceuticals, Inc. before rebranding in 2017, the company is headquartered in La Jolla, California.

Equillium reported revenue of $15.8M in FY2022, rising to $36.1M in FY2023 and $41.1M in FY2024. In FY2025, revenue fell 99.7% to $130,000, bringing its 3-year revenue CAGR to -79.8%. The company operated at a loss throughout this period, with net income moving from -$62.4M in FY2022 to -$13.3M in FY2023, -$8.1M in FY2024, and -$22.4M in FY2025. In FY2025, operating margin was -18180.0% and net margin was -17229.2%. For the trailing twelve months ending June 30, 2026, revenue stood at $4.4M with quarterly revenue growth falling 52.3% year-over-year and an EPS of -$0.14.

As of June 30, 2026, Equillium held $57.2M in cash and short-term investments against total debt of $584,000, resulting in net cash of $56.6M. The company reported shareholders' equity of $56.0M, total assets of $58.7M, a current ratio of 23.40, and a debt-to-equity ratio of 0.01. During FY2025, operating cash flow was -$22.7M and free cash flow was -$22.8M, while capital expenditures totaled $48,000. Over five years, the company's share count expanded by 280.1%.

At a market capitalization of $75.5M and enterprise value of $54.4M, Equillium trades at a forward P/E of 1.5x, compared to the 17.3x median of its US-listed Healthcare peers. Its price-to-sales ratio is 20.2x against the peer median of 4.1x, and its EV-to-EBITDA multiple is 0.1x compared to the peer median of 12.0x. The stock closed at $1.19 on October 16, 2026, down 23.2% year-to-date and 3.3% over the trailing year, underperforming the S&P 500 (SPY), which rose 16.8% over the same 1-year period.

Wall Street analyst coverage on Equillium shows 8 Strong Buy ratings and 1 Buy rating, with 0 Hold, 0 Sell, and 0 Strong Sell ratings. The mean price target is $8.56, representing a 619.0% premium over the last close of $1.19. For the current fiscal year ending December 31, 2026, analysts estimate an EPS of -$0.21 on revenue of $0. Equillium has beaten EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 12, 2026.

This page is an AI-written research summary of Equillium, Inc. (EQ). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: EQ income statement, EQ balance sheet, EQ key metrics, EQ analyst forecast, EQ chart. See the EQ stock overview for the latest quote and news.