Quoin Pharmaceuticals (NASDAQ:QNRX) Announces Earnings Results, Misses Expectations By $0.29 EPS

Quoin Pharmaceuticals (NASDAQ:QNRX) posted its quarterly earnings results on Friday. The company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.29), Zacks reports.

Quoin Pharmaceuticals Stock Performance

QNRX stock opened at $5.09 on Friday. The stock’s fifty day moving average is $4.55 and its two-hundred day moving average is $6.12. The stock has a market capitalization of $10.23 million, a price-to-earnings ratio of -0.20 and a beta of 1.50. Quoin Pharmaceuticals has a 1 year low of $3.25 and a 1 year high of $41.80.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, July 20th. ThinkEquity began coverage on shares of Quoin Pharmaceuticals in a research note on Monday, June 15th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Quoin Pharmaceuticals presently has an average rating of “Hold”.

Hedge Funds Weigh In On Quoin Pharmaceuticals

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

About Quoin Pharmaceuticals

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.