Cantor starts Equillium at Overweight on ulcerative colitis potential

Cantor Fitzgerald initiated coverage of Equillium (EQ) with an Overweight rating and $10 price target The company’s lead program EQ504 is an aryl hydrocarbon receptor agonist entering the clinic in mid-2026 for development in ulcerative colitis, the analyst tells investors in a research note. Cantor says that while the “story is early,” Equillium has a “potential multi-blockbuster mechanism in a large and proven indication” with further potential upside across additional indications.