Quoin Pharmaceuticals (NASDAQ:QNRX) Posts Quarterly Earnings Results, Beats Expectations By $0.40 EPS

Quoin Pharmaceuticals (NASDAQ:QNRX) released its quarterly earnings data on Thursday. The company reported ($1.77) EPS for the quarter, topping the consensus estimate of ($2.17) by $0.40, FiscalAI reports.

Quoin Pharmaceuticals Price Performance

NASDAQ:QNRX traded down $0.44 on Friday, reaching $5.93. The stock had a trading volume of 29,564 shares, compared to its average volume of 25,830. The company has a market cap of $10.67 million, a price-to-earnings ratio of -0.20 and a beta of 1.61. The firm’s fifty day moving average is $7.14 and its two-hundred day moving average is $10.55. Quoin Pharmaceuticals has a 12-month low of $5.20 and a 12-month high of $41.80.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Quoin Pharmaceuticals has an average rating of “Sell”.

Institutional Inflows and Outflows

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