Quoin Pharmaceuticals (NASDAQ:QNRX) Research Coverage Started at BTIG Research

BTIG Research assumed coverage on shares of Quoin Pharmaceuticals (NASDAQ:QNRX) in a research report released on Monday morning, MarketBeat reports. The firm issued a buy rating and a $14.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Monday, July 20th. Lake Street Capital started coverage on shares of Quoin Pharmaceuticals in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, ThinkEquity initiated coverage on shares of Quoin Pharmaceuticals in a report on Monday, June 15th. They set a “buy” rating for the company. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Quoin Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Quoin Pharmaceuticals Price Performance

NASDAQ:QNRX opened at $4.10 on Monday. Quoin Pharmaceuticals has a fifty-two week low of $3.25 and a fifty-two week high of $23.50. The business has a 50 day moving average price of $5.74 and a 200-day moving average price of $5.35.

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

Insiders Place Their Bets

In other Quoin Pharmaceuticals news, COO Denise Carter bought 20,490 shares of Quoin Pharmaceuticals stock in a transaction dated Monday, August 31st. The shares were purchased at an average cost of $4.88 per share, with a total value of $99,991.20. Following the completion of the purchase, the chief operating officer owned 37,709 shares of the company’s stock, valued at approximately $184,019.92. This represents a 119.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony Culverwell bought 6,146 shares of Quoin Pharmaceuticals stock in a transaction dated Monday, August 31st. The shares were acquired at an average cost of $4.88 per share, for a total transaction of $29,992.48. Following the completion of the purchase, the director directly owned 40,364 shares of the company’s stock, valued at approximately $196,976.32. This trade represents a 17.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 57,370 shares of company stock valued at $279,966 in the last 90 days. 7.54% of the stock is owned by corporate insiders.

Institutional Trading of Quoin Pharmaceuticals

A hedge fund recently raised its stake in Quoin Pharmaceuticals stock. SummitTX Capital L.P. raised its stake in shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,300 shares of the company’s stock after purchasing an additional 35,505 shares during the quarter. SummitTX Capital L.P. owned approximately 5.56% of Quoin Pharmaceuticals worth $662,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.63% of the company’s stock.

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.