Published on 14 Aug 2023 on Simply Wall St. via Yahoo Finance

Analysts Just Made A Substantial Upgrade To Their Equillium, Inc. (NASDAQ:EQ) Forecasts

Equillium, Inc. (NASDAQ:EQ) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. Consensus estimates suggest investors could expect greatly increased statutory revenues and earnings per share, with analysts modelling a real improvement in business performance.

Following the latest upgrade, the five analysts covering Equillium provided consensus estimates of US$32m revenue in 2023, which would reflect a perceptible 5.8% decline on its sales over the past 12 months. Losses are expected to increase slightly, to US$0.55 per share. Yet before this consensus update, the analysts had been forecasting revenues of US$26m and losses of US$0.64 per share in 2023. So there's been quite a change-up of views after the recent consensus updates, with the analysts making a sizeable increase to their revenue forecasts while also reducing the estimated loss as the business grows towards breakeven.

Check out our latest analysis for Equillium