Quoin Pharmaceuticals (NASDAQ:QNRX) Now Covered by Analysts at Lake Street Capital

Research analysts at Lake Street Capital started coverage on shares of Quoin Pharmaceuticals (NASDAQ:QNRX) in a research report issued on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $20.00 price target on the stock. Lake Street Capital’s price objective suggests a potential upside of 180.90% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. ThinkEquity began coverage on Quoin Pharmaceuticals in a report on Monday, June 15th. They issued a “buy” rating for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, July 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Quoin Pharmaceuticals has a consensus rating of “Hold” and an average target price of $20.00.

Quoin Pharmaceuticals Price Performance

Shares of QNRX stock traded up $0.11 during trading hours on Wednesday, hitting $7.12. The stock had a trading volume of 4,116 shares, compared to its average volume of 305,582. The stock has a market capitalization of $14.31 million, a price-to-earnings ratio of -0.28 and a beta of 1.51. Quoin Pharmaceuticals has a one year low of $3.25 and a one year high of $41.80. The stock’s 50-day moving average price is $5.53 and its two-hundred day moving average price is $5.72.

Quoin Pharmaceuticals (NASDAQ:QNRX) last issued its quarterly earnings data on Friday, August 14th. The company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.29). As a group, equities research analysts predict that Quoin Pharmaceuticals will post -7.45 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael Myers acquired 20,490 shares of Quoin Pharmaceuticals stock in a transaction that occurred on Monday, August 31st. The shares were bought at an average cost of $4.88 per share, with a total value of $99,991.20. Following the transaction, the chief executive officer directly owned 37,713 shares of the company’s stock, valued at $184,039.44. This trade represents a 118.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Anthony James Culverwell acquired 6,146 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $4.88 per share, with a total value of $29,992.48. Following the purchase, the director owned 40,364 shares of the company’s stock, valued at $196,976.32. The trade was a 17.96% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 57,370 shares of company stock valued at $279,966. 11.17% of the stock is currently owned by company insiders.

Institutional Trading of Quoin Pharmaceuticals

An institutional investor recently raised its position in Quoin Pharmaceuticals stock. SummitTX Capital L.P. lifted its stake in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,300 shares of the company’s stock after purchasing an additional 35,505 shares during the period. SummitTX Capital L.P. owned about 5.56% of Quoin Pharmaceuticals worth $662,000 at the end of the most recent quarter. 8.63% of the stock is owned by institutional investors.

Quoin Pharmaceuticals Company Profile

Quoin Pharmaceuticals Ltd. is a clinical-stage specialty pharmaceutical company focused on developing treatments for rare diseases, with an initial emphasis on serious dermatological conditions. The company is developing proprietary topical formulations intended to deliver therapies directly to affected skin while addressing unmet medical needs in patient populations with limited treatment options.

Quoin’s lead product candidate, QRX003, is a topical lotion formulation of sirolimus being developed for the treatment of Netherton syndrome, a rare genetic skin disorder.