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

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

Quoin Pharmaceuticals Stock Down 13.9%

Shares of QNRX traded down $1.29 during trading on Thursday, reaching $7.98. The company’s stock had a trading volume of 121,892 shares, compared to its average volume of 99,959. Quoin Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $41.80. The company has a market cap of $6.70 million, a price-to-earnings ratio of -0.25 and a beta of 1.60. The company has a fifty day moving average of $8.59 and a two-hundred day moving average of $11.14.

Institutional Investors Weigh In On Quoin Pharmaceuticals

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

Wall Street Analyst Weigh In

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

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.