Quoin Pharmaceuticals (NASDAQ:QNRX) Posts Quarterly Earnings Results, Beats Expectations By $0.55 EPS

Quoin Pharmaceuticals (NASDAQ:QNRX) issued its quarterly earnings results on Thursday. The company reported ($0.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.52) by $0.55, Zacks reports.

Quoin Pharmaceuticals Price Performance

NASDAQ:QNRX traded down $0.12 during mid-day trading on Friday, reaching $3.73. 25,555 shares of the company’s stock were exchanged, compared to its average volume of 32,247. Quoin Pharmaceuticals has a one year low of $3.25 and a one year high of $23.50. The business’s fifty day simple moving average is $5.29 and its two-hundred day simple moving average is $5.93.

Wall Street Analysts Forecast Growth

QNRX has been the subject of a number of analyst reports. BTIG Research began coverage on shares of Quoin Pharmaceuticals in a report on Monday, October 12th. They set a “buy” rating and a $14.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Friday, October 16th. Canaccord Genuity Group assumed coverage on shares of Quoin Pharmaceuticals in a research report on Monday, October 19th. They set a “buy” rating and a $18.00 price target on the stock. Lake Street Capital began coverage on Quoin Pharmaceuticals in a research note on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price target on the stock. Finally, Wall Street Zen upgraded Quoin Pharmaceuticals to a “sell” rating in a research report on Saturday, October 17th. Four research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

Insider Buying and Selling

In other Quoin Pharmaceuticals news, CFO Sally Lawlor acquired 10,244 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average price of $4.88 per share, for a total transaction of $49,990.72. Following the acquisition, the chief financial officer directly owned 10,684 shares in the company, valued at $52,137.92. This represents a 2,328.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Denise P. Carter purchased 20,490 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were acquired at an average price of $4.88 per share, for a total transaction of $99,991.20. Following the acquisition, the chief operating officer owned 37,709 shares of the company’s stock, valued at $184,019.92. This trade represents a 119.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 57,370 shares of company stock valued at $279,966 over the last 90 days. 7.54% of the stock is currently owned by insiders.

About Quoin Pharmaceuticals

Quoin Pharmaceuticals, Ltd. is a clinical-stage specialty pharmaceutical company focused on developing treatments for rare and orphan diseases. The company is primarily pursuing therapies for conditions with significant unmet medical needs, including rare genetic disorders affecting the skin.

Quoin’s lead program is QRX003, a topical lotion being developed for Netherton syndrome, a rare inherited skin disorder associated with impaired skin-barrier function. The company is also developing QRX004, a topical product candidate intended for recessive dystrophic epidermolysis bullosa, a severe genetic skin disease.