Quoin Pharmaceuticals (NASDAQ:QNRX) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Quoin Pharmaceuticals (NASDAQ:QNRX – Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other analysts also recently issued reports on QNRX. Lake Street Capital initiated coverage on shares of Quoin Pharmaceuticals in a report on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price target on the stock. Canaccord Genuity Group initiated coverage on shares of Quoin Pharmaceuticals in a research report on Monday, October 19th. They issued a “buy” rating and a $18.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Friday, October 16th. Finally, BTIG Research assumed coverage on Quoin Pharmaceuticals in a research report on Monday, October 12th. They issued a “buy” rating and a $14.00 target price on the stock. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.33.

Get Our Latest Stock Report on QNRX

Quoin Pharmaceuticals Trading Up 6.4%

Shares of NASDAQ:QNRX opened at $3.88 on Friday. The stock has a fifty day simple moving average of $5.25 and a two-hundred day simple moving average of $5.90. Quoin Pharmaceuticals has a 12-month low of $3.25 and a 12-month high of $23.50.

Quoin Pharmaceuticals (NASDAQ:QNRX – Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.52) by $0.55. Research analysts predict that Quoin Pharmaceuticals will post -7.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Myers acquired 20,490 shares of Quoin Pharmaceuticals stock in a transaction on Monday, August 31st. The shares were bought 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 executive officer directly owned 37,713 shares of the company’s stock, valued at $184,039.44. The trade was a 118.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anthony Culverwell acquired 6,146 shares of Quoin Pharmaceuticals stock in a transaction on Monday, August 31st. The shares were bought 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 $196,976.32. The trade was a 17.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 57,370 shares of company stock worth $279,966. Insiders own 7.54% of the company’s stock.

Hedge Funds Weigh In On Quoin Pharmaceuticals

A hedge fund recently raised its stake in Quoin Pharmaceuticals stock. AIGH Capital Management LLC boosted its stake in shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX – Free Report) by 237.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 236,234 shares of the company’s stock after buying an additional 166,234 shares during the period. AIGH Capital Management LLC owned approximately 4.92% of Quoin Pharmaceuticals worth $1,077,000 at the end of the most recent quarter. 8.63% of the stock is currently owned by institutional investors and hedge funds.

About Quoin Pharmaceuticals

(Get Free Report)

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.

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