Quoin Pharmaceuticals (NASDAQ:QNRX) Announces Quarterly Earnings Results

Quoin Pharmaceuticals (NASDAQ:QNRX) released its quarterly earnings results on Thursday. The company reported ($1.74) earnings per share for the quarter, topping analysts’ consensus estimates of ($6.42) by $4.68, FiscalAI reports.

Quoin Pharmaceuticals Trading Down 10.9%

NASDAQ:QNRX traded down $1.01 on Thursday, hitting $8.26. The company’s stock had a trading volume of 117,959 shares, compared to its average volume of 99,948. Quoin Pharmaceuticals has a one year low of $5.01 and a one year high of $41.80. The firm has a market capitalization of $6.94 million, a P/E ratio of -0.27 and a beta of 1.60. The stock has a fifty day moving average of $8.59 and a two-hundred day moving average of $11.14.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Investors Weigh In On Quoin Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in QNRX. ADAR1 Capital Management LLC acquired a new stake in shares of Quoin Pharmaceuticals during the fourth quarter worth $840,000. Boothbay Fund Management LLC acquired a new position in shares of Quoin Pharmaceuticals in the fourth quarter valued at about $863,000. Millennium Management LLC bought a new position in Quoin Pharmaceuticals during the fourth quarter worth about $1,080,000. SummitTX Capital L.P. bought a new position in Quoin Pharmaceuticals during the fourth quarter worth about $935,000. Finally, Ikarian Capital LLC acquired a new stake in Quoin Pharmaceuticals in the 4th quarter worth about $3,052,000. Institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Company Profile

Quoin Pharmaceuticals, Ltd., a clinical stage specialty pharmaceutical company, focuses on the development and commercialization of therapeutic products for rare and orphan diseases. Its lead product is QRX003, a topical lotion to treat Netherton Syndrome (NS). The company is also developing QRX004 for the treatment of recessive dystrophic epidermolysis bullosa; QRX007 to treat NS; and QRX008 for the treatment of scleroderma. It has a research agreement with Queensland University of Technology; a license agreement with Skinvisible Inc; consulting agreements with Axella Research LLC; and a Master Service Agreement with Therapeutics Inc The company was founded in 2018 and is based in Ashburn, Virginia.