Quoin Pharmaceuticals (NASDAQ:QNRX) Stock Picked Up by Analysts at BTIG Research

Analysts at BTIG Research started coverage on shares of Quoin Pharmaceuticals (NASDAQ:QNRX) in a research report issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $14.00 price target on the stock. BTIG Research’s price objective points to a potential upside of 237.35% from the stock’s previous close.

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

Quoin Pharmaceuticals Price Performance

Shares of NASDAQ QNRX opened at $4.15 on Monday. Quoin Pharmaceuticals has a 1 year low of $3.25 and a 1 year high of $23.50. The firm has a 50-day simple moving average of $5.74 and a two-hundred day simple moving average of $5.37.

Quoin Pharmaceuticals (NASDAQ:QNRX) last announced its earnings results on Friday, August 14th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.61) by ($0.29). On average, sell-side analysts expect that Quoin Pharmaceuticals will post -7.45 EPS for the current fiscal year.

Insider Activity at Quoin Pharmaceuticals

In related news, COO Denise Carter bought 20,490 shares of the company’s stock in a transaction on Monday, August 31st. The shares were acquired at an average cost of $4.88 per share, for a total transaction of $99,991.20. Following the purchase, the chief operating officer directly owned 37,709 shares of the company’s stock, valued at approximately $184,019.92. The trade was a 119.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sally Lawlor bought 10,244 shares of the company’s stock in a transaction on Monday, August 31st. The stock was bought at an average price of $4.88 per share, for a total transaction of $49,990.72. Following the completion of the purchase, the chief financial officer directly owned 10,684 shares in the company, valued at approximately $52,137.92. This represents a 2,328.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 57,370 shares of company stock valued at $279,966 in the last quarter. Corporate insiders own 7.54% of the company’s stock.

Institutional Trading of Quoin Pharmaceuticals

An institutional investor recently raised its stake in Quoin Pharmaceuticals stock. SummitTX Capital L.P. raised its position in shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,300 shares of the company’s stock after purchasing an additional 35,505 shares during the period. SummitTX Capital L.P. owned about 5.56% of Quoin Pharmaceuticals worth $662,000 as of its most recent filing with the Securities & Exchange Commission. 8.63% of the stock is currently owned by institutional investors and hedge funds.

About Quoin Pharmaceuticals

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.