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

Quoin Pharmaceuticals (NASDAQ:QNRX) released its 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. The stock had a trading volume of 25,555 shares, compared to its average volume of 32,247. The stock has a market cap of $17.88 million, a PE ratio of -0.19 and a beta of 1.71. Quoin Pharmaceuticals has a 1 year low of $3.25 and a 1 year high of $23.50. The company has a fifty day moving average price of $5.29 and a 200 day moving average price of $5.93.

Insiders Place Their Bets

In other Quoin Pharmaceuticals news, CEO Michael Myers bought 20,490 shares of Quoin Pharmaceuticals stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $4.88 per share, with a total value of $99,991.20. Following the acquisition, the chief executive officer owned 37,713 shares in the company, 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 purchased 10,244 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was acquired at an average price of $4.88 per share, with a total value of $49,990.72. Following the purchase, the chief financial officer directly owned 10,684 shares of the company’s stock, valued at approximately $52,137.92. The trade was a 2,328.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 57,370 shares of company stock valued at $279,966. 7.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QNRX. Lake Street Capital initiated coverage on Quoin Pharmaceuticals in a research report on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price objective for the company. BTIG Research initiated coverage on Quoin Pharmaceuticals in a report on Monday, October 12th. They issued a “buy” rating and a $14.00 target price on the stock. Canaccord Genuity Group initiated coverage on Quoin Pharmaceuticals in a research note on Monday, October 19th. They issued a “buy” rating and a $18.00 target price on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a report on Friday, October 16th. Finally, Wall Street Zen raised Quoin Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Quoin Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $17.33.

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.