Quoin Pharmaceuticals (NASDAQ:QNRX) Raised to “Sell” at Wall Street Zen

Quoin Pharmaceuticals (NASDAQ:QNRX) was upgraded by research analysts at Wall Street Zen to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on QNRX. Lake Street Capital began coverage on shares of Quoin Pharmaceuticals in a research report on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, July 20th. Finally, BTIG Research assumed coverage on shares of Quoin Pharmaceuticals in a research report on Monday, October 12th. They issued a “buy” rating and a $14.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Quoin Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Quoin Pharmaceuticals Stock Performance

NASDAQ:QNRX opened at $3.90 on Friday. The firm has a market cap of $18.74 million, a PE ratio of -0.15 and a beta of 1.56. Quoin Pharmaceuticals has a fifty-two week low of $3.25 and a fifty-two week high of $23.50. The business has a 50 day moving average price of $5.71 and a 200-day moving average price of $5.31.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its earnings results on Friday, August 14th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.61) by ($0.29). Research analysts predict that Quoin Pharmaceuticals will post -7.45 EPS for the current year.

Insiders Place Their Bets

In other Quoin Pharmaceuticals news, CFO Sally Lawlor purchased 10,244 shares of the stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $4.88 per share, with a total value of $49,990.72. Following the transaction, the chief financial officer directly owned 10,684 shares of the company’s stock, valued at approximately $52,137.92. This trade represents a 2,328.18% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony Culverwell acquired 6,146 shares of the company’s stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $4.88 per share, with a total value of $29,992.48. Following the acquisition, the director owned 40,364 shares in the company, valued at approximately $196,976.32. This trade represents a 17.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 57,370 shares of company stock worth $279,966. 7.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Quoin Pharmaceuticals

A hedge fund recently raised its stake in Quoin Pharmaceuticals stock. SummitTX Capital L.P. lifted its holdings in shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,300 shares of the company’s stock after acquiring an additional 35,505 shares during the quarter. SummitTX Capital L.P. owned approximately 5.56% of Quoin Pharmaceuticals worth $662,000 as of its most recent filing with the Securities & Exchange Commission. 8.63% of the stock is currently owned by institutional investors and hedge funds.

Quoin Pharmaceuticals Company Profile

Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) is a clinical-stage specialty pharmaceutical company focused on developing treatments for rare diseases with significant unmet medical needs. The company’s programs are primarily designed to address disorders affecting the skin and other tissues, with an emphasis on topical drug-delivery technologies.

Quoin’s lead product candidate, QRX003, is an investigational topical lotion being developed for Netherton syndrome, a rare genetic skin disorder associated with impaired skin barrier function and inflammation.