Quoin Pharmaceuticals (NASDAQ:QNRX) Announces Quarterly Earnings Results, Beats Estimates By $0.55 EPS

Quoin Pharmaceuticals (NASDAQ:QNRX) issued its quarterly earnings data on Thursday. The company reported ($0.97) EPS for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.55, Zacks reports.

Quoin Pharmaceuticals Stock Down 3.2%

Shares of Quoin Pharmaceuticals stock traded down $0.12 on Friday, hitting $3.73. The company had a trading volume of 25,555 shares, compared to its average volume of 32,247. The stock has a 50-day moving average of $5.29 and a 200-day moving average of $5.93. Quoin Pharmaceuticals has a twelve month low of $3.25 and a twelve month high of $23.50.

Insider Buying and Selling

In other news, CEO Michael Myers acquired 20,490 shares of the stock in a transaction dated Monday, August 31st. The shares were bought at an average cost of $4.88 per share, for a total transaction of $99,991.20. Following the purchase, the chief executive officer directly owned 37,713 shares of the company’s stock, valued at approximately $184,039.44. This trade represents a 118.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sally Lawlor acquired 10,244 shares of Quoin Pharmaceuticals stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $4.88 per share, with a total value of $49,990.72. Following the acquisition, the chief financial officer 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 ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 57,370 shares of company stock worth $279,966 over the last 90 days. Company insiders own 7.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on QNRX. Lake Street Capital started coverage on Quoin Pharmaceuticals in a research report on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Friday, October 16th. Wall Street Zen raised shares of Quoin Pharmaceuticals to a “sell” rating in a research note on Saturday, October 17th. Canaccord Genuity Group began coverage on shares of Quoin Pharmaceuticals in a research note on Monday, October 19th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, BTIG Research started coverage on shares of Quoin Pharmaceuticals in a research report on Monday, October 12th. They set a “buy” rating and a $14.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $17.33.

Quoin Pharmaceuticals Company Profile

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.