Quoin Pharmaceuticals (NASDAQ:QNRX) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of Quoin Pharmaceuticals (NASDAQ:QNRX) in a report published on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $20.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. ThinkEquity assumed coverage on shares of Quoin Pharmaceuticals in a research report on Monday, June 15th. They issued a “buy” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Monday, July 20th. Two investment 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 currently has an average rating of “Hold” and a consensus target price of $20.00.

Quoin Pharmaceuticals Price Performance

NASDAQ QNRX opened at $6.43 on Wednesday. The business has a 50 day moving average price of $5.67 and a 200 day moving average price of $5.70. The company has a market capitalization of $12.92 million, a P/E ratio of -0.26 and a beta of 1.51. Quoin Pharmaceuticals has a 1-year low of $3.25 and a 1-year high of $41.80.

Quoin Pharmaceuticals (NASDAQ:QNRX) last posted its earnings results on Friday, August 14th. The company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.29). On average, research analysts expect that Quoin Pharmaceuticals will post -7.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Anthony James Culverwell purchased 6,146 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was bought at an average cost of $4.88 per share, with a total value of $29,992.48. Following the completion of the acquisition, the director directly owned 40,364 shares in the company, valued at $196,976.32. The trade was a 17.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Myers acquired 20,490 shares of Quoin Pharmaceuticals stock in a transaction dated Monday, August 31st. The stock was bought at an average price of $4.88 per share, for a total transaction of $99,991.20. Following the completion of the transaction, the chief executive officer directly owned 37,713 shares of the company’s stock, valued at approximately $184,039.44. This represents a 118.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 57,370 shares of company stock valued at $279,966. 11.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Quoin Pharmaceuticals stock. SummitTX Capital L.P. grew its position in shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 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 and hedge funds.

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.