Quoin Pharmaceuticals (NASDAQ:QNRX) Releases Quarterly Earnings Results, Beats Estimates By $4.68 EPS

Quoin Pharmaceuticals (NASDAQ:QNRX) announced its quarterly earnings results on Thursday. The company reported ($1.74) EPS for the quarter, beating the consensus estimate of ($6.42) by $4.68, FiscalAI reports.

Quoin Pharmaceuticals Trading Down 18.3%

Shares of Quoin Pharmaceuticals stock opened at $7.57 on Friday. The stock has a market capitalization of $6.36 million, a price-to-earnings ratio of -0.24 and a beta of 1.60. The firm’s 50-day moving average price is $8.53 and its two-hundred day moving average price is $11.11. Quoin Pharmaceuticals has a 1-year low of $5.01 and a 1-year high of $41.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. ADAR1 Capital Management LLC acquired a new stake in Quoin Pharmaceuticals during the 4th quarter valued at $840,000. Boothbay Fund Management LLC acquired a new position in Quoin Pharmaceuticals in the fourth quarter worth $863,000. SummitTX Capital L.P. bought a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth $935,000. Millennium Management LLC bought a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth $1,080,000. Finally, Ikarian Capital LLC acquired a new stake in shares of Quoin Pharmaceuticals in the fourth quarter valued at $3,052,000. 8.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus 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.