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

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

Other equities research analysts have also issued reports about the stock. Lake Street Capital began coverage on shares of Quoin Pharmaceuticals in a report on Wednesday, September 23rd. They set a “buy” rating and a $20.00 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Friday, October 16th. Canaccord Genuity Group initiated coverage on shares of Quoin Pharmaceuticals in a research note on Monday, October 19th. They set a “buy” rating and a $18.00 price target for the company. Finally, BTIG Research began coverage on shares of Quoin Pharmaceuticals in a report on Monday, October 12th. They set a “buy” rating and a $14.00 price target on the stock. Four 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.33.

Quoin Pharmaceuticals Trading Up 2.1%

NASDAQ:QNRX opened at $3.73 on Friday. The stock has a market cap of $17.88 million, a P/E ratio of -0.19 and a beta of 1.71. The stock’s 50-day moving average is $5.29 and its 200-day moving average is $5.93. Quoin Pharmaceuticals has a 1-year low of $3.25 and a 1-year high of $23.50.

Quoin Pharmaceuticals (NASDAQ:QNRX) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.52) by $0.55. As a group, equities analysts forecast that Quoin Pharmaceuticals will post -7.45 EPS for the current year.

Insider Activity

In other news, COO Denise Carter purchased 20,490 shares of the business’s stock in a transaction on Monday, August 31st. The shares were acquired at an average price of $4.88 per share, with a total value of $99,991.20. Following the completion of the transaction, the chief operating officer owned 37,709 shares of the company’s stock, valued at $184,019.92. The trade was a 119.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Myers purchased 20,490 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were acquired at an average price of $4.88 per share, with a total value of $99,991.20. Following the completion of the acquisition, the chief executive officer owned 37,713 shares in the company, valued at approximately $184,039.44. This trade represents a 118.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 57,370 shares of company stock worth $279,966 in the last three months. Corporate insiders own 7.54% of the company’s stock.

Institutional Investors Weigh In On Quoin Pharmaceuticals

An institutional investor recently raised its position in Quoin Pharmaceuticals stock. SummitTX Capital L.P. raised its holdings in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,300 shares of the company’s stock after buying an additional 35,505 shares during the quarter. SummitTX Capital L.P. owned 5.56% of Quoin Pharmaceuticals worth $662,000 as of its most recent SEC filing. Institutional investors own 8.63% of the company’s stock.

About Quoin Pharmaceuticals

Quoin Pharmaceuticals, Ltd. is a clinical-stage specialty pharmaceutical company focused on developing treatments for rare and orphan diseases. The company is primarily pursuing therapies for conditions with significant unmet medical needs, including rare genetic disorders affecting the skin.

Quoin’s lead program is QRX003, a topical lotion being developed for Netherton syndrome, a rare inherited skin disorder associated with impaired skin-barrier function. The company is also developing QRX004, a topical product candidate intended for recessive dystrophic epidermolysis bullosa, a severe genetic skin disease.