Quoin Pharmaceuticals (NASDAQ:QNRX) Announces Quarterly Earnings Results, Misses Expectations By $8.38 EPS

Quoin Pharmaceuticals (NASDAQ:QNRX) announced its quarterly earnings data on Thursday. The company reported ($14.80) EPS for the quarter, missing analysts’ consensus estimates of ($6.42) by ($8.38), Zacks reports.

Quoin Pharmaceuticals Stock Down 15.3%

Shares of NASDAQ:QNRX opened at $6.41 on Friday. The stock has a market capitalization of $5.38 million, a PE ratio of -0.19 and a beta of 1.60. The firm’s 50 day moving average price is $8.45 and its 200-day moving average price is $11.10. Quoin Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $41.80.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QNRX. Ikarian Capital LLC bought a new position in Quoin Pharmaceuticals in the 4th quarter worth $3,052,000. Millennium Management LLC bought a new position in shares of Quoin Pharmaceuticals in the fourth quarter worth about $1,080,000. SummitTX Capital L.P. bought a new position in shares of Quoin Pharmaceuticals in the fourth quarter worth about $935,000. Boothbay Fund Management LLC purchased a new position in shares of Quoin Pharmaceuticals during the 4th quarter valued at about $863,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Quoin Pharmaceuticals during the 4th quarter valued at about $840,000. 8.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Quoin Pharmaceuticals Company Profile

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.