Quoin Pharmaceuticals (NASDAQ:QNRX) Announces Quarterly Earnings Results

Quoin Pharmaceuticals (NASDAQ:QNRX) posted its earnings results on Friday. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.07), Zacks reports.

Quoin Pharmaceuticals Trading Down 15.9%

Shares of NASDAQ:QNRX traded down $0.96 during midday trading on Friday, hitting $5.09. The company’s stock had a trading volume of 64,689 shares, compared to its average volume of 15,790. The stock’s 50 day simple moving average is $4.55 and its 200 day simple moving average is $6.12. Quoin Pharmaceuticals has a fifty-two week low of $3.25 and a fifty-two week high of $41.80.

Analyst Upgrades and Downgrades

QNRX has been the topic of a number of analyst reports. ThinkEquity assumed coverage on Quoin Pharmaceuticals in a report on Monday, June 15th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, July 20th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Institutional Trading of Quoin Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in QNRX. Ikarian Capital LLC acquired a new stake in Quoin Pharmaceuticals in the 4th quarter valued at approximately $3,052,000. SummitTX Capital L.P. acquired a new position in shares of Quoin Pharmaceuticals during the fourth quarter worth approximately $935,000. Millennium Management LLC acquired a new position in shares of Quoin Pharmaceuticals during the fourth quarter worth approximately $1,080,000. Boothbay Fund Management LLC bought a new stake in shares of Quoin Pharmaceuticals in the fourth quarter valued at approximately $863,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Quoin Pharmaceuticals in the fourth quarter valued at approximately $840,000. Institutional investors own 8.63% of the company’s stock.

About Quoin Pharmaceuticals

Quoin Pharmaceuticals, Ltd., a clinical stage specialty pharmaceutical company, focuses on the development and commercialization of therapeutic products for rare and orphan diseases. Its lead product is QRX003, a topical lotion to treat Netherton Syndrome (NS). The company is also developing QRX004 for the treatment of recessive dystrophic epidermolysis bullosa; QRX007 to treat NS; and QRX008 for the treatment of scleroderma. It has a research agreement with Queensland University of Technology; a license agreement with Skinvisible Inc; consulting agreements with Axella Research LLC; and a Master Service Agreement with Therapeutics Inc The company was founded in 2018 and is based in Ashburn, Virginia.