Quoin Pharmaceuticals (NASDAQ:QNRX) Coverage Initiated by Analysts at BTIG Research

BTIG Research initiated coverage on shares of Quoin Pharmaceuticals (NASDAQ:QNRX) in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $14.00 price objective on the stock.

Several other equities research analysts have also recently commented on QNRX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. Lake Street Capital began coverage on Quoin Pharmaceuticals in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $20.00 price target on the stock. Finally, ThinkEquity began coverage on Quoin Pharmaceuticals in a research note on Monday, June 15th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Quoin Pharmaceuticals Trading Down 3.1%

Shares of Quoin Pharmaceuticals stock opened at $4.36 on Monday. The business has a 50-day moving average price of $5.75 and a two-hundred day moving average price of $5.41. Quoin Pharmaceuticals has a 1-year low of $3.25 and a 1-year high of $23.50. The company has a market cap of $8.75 million, a P/E ratio of -0.17 and a beta of 1.56.

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

Insider Activity at Quoin Pharmaceuticals

In related news, CFO Sally Lawlor acquired 10,244 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $4.88 per share, for a total transaction of $49,990.72. Following the completion of 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Myers acquired 20,490 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were bought at an average price of $4.88 per share, for a total transaction of $99,991.20. Following the acquisition, 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 position. The SEC filing for this purchase provides additional information. Insiders acquired 57,370 shares of company stock valued at $279,966 in the last ninety days. Insiders own 11.17% of the company’s stock.

Institutional Trading of Quoin Pharmaceuticals

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

Quoin Pharmaceuticals Company Profile

Quoin Pharmaceuticals Ltd. (NASDAQ: QNRX) is a clinical-stage specialty pharmaceutical company focused on developing treatments for rare diseases with significant unmet medical needs. The company’s programs are primarily designed to address disorders affecting the skin and other tissues, with an emphasis on topical drug-delivery technologies.

Quoin’s lead product candidate, QRX003, is an investigational topical lotion being developed for Netherton syndrome, a rare genetic skin disorder associated with impaired skin barrier function and inflammation.