Quoin Pharmaceuticals, Ltd. Sponsored ADR (QNRX) – What Are Brokerages Saying About This Stock?

Shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) have been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.33.

A number of analysts have recently issued reports on QNRX shares. Wall Street Zen raised Quoin Pharmaceuticals to a “sell” rating in a research report on Saturday. Canaccord Genuity Group initiated coverage on Quoin Pharmaceuticals in a report on Monday. They issued a “buy” rating and a $18.00 price target for the company. BTIG Research initiated coverage on Quoin Pharmaceuticals in a research note on Monday, October 12th. They set a “buy” rating and a $14.00 price objective for the company. Lake Street Capital started coverage on Quoin Pharmaceuticals in a report on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Friday.

Insider Activity at Quoin Pharmaceuticals

In other news, CEO Michael Myers purchased 20,490 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average cost of $4.88 per share, for a total transaction of $99,991.20. Following the completion of the purchase, the chief executive officer owned 37,713 shares of the company’s stock, valued at approximately $184,039.44. This trade represents a 118.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sally Lawlor bought 10,244 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was purchased at an average price of $4.88 per share, with a total value of $49,990.72. Following the transaction, the chief financial officer owned 10,684 shares in the company, valued at approximately $52,137.92. This represents a 2,328.18% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 57,370 shares of company stock worth $279,966 in the last ninety days. 7.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quoin Pharmaceuticals

An institutional investor recently raised its position in Quoin Pharmaceuticals stock. SummitTX Capital L.P. boosted its holdings in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,300 shares of the company’s stock after acquiring an additional 35,505 shares during the period. SummitTX Capital L.P. owned about 5.56% of Quoin Pharmaceuticals worth $662,000 at the end of the most recent quarter. Institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Stock Performance

Shares of QNRX stock traded down $0.02 on Monday, hitting $3.88. The stock had a trading volume of 1,469 shares, compared to its average volume of 282,781. The stock’s 50 day moving average is $5.71 and its 200-day moving average is $5.31. The firm has a market capitalization of $18.63 million, a price-to-earnings ratio of -0.15 and a beta of 1.56. Quoin Pharmaceuticals has a 52-week low of $3.25 and a 52-week high of $23.50.

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

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.