Quoin Pharmaceuticals (NASDAQ:QNRX) Stock Rating Raised to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Quoin Pharmaceuticals (NASDAQ:QNRX) to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other analysts also recently commented on the stock. BTIG Research started coverage on shares of Quoin Pharmaceuticals in a research report on Monday, October 12th. They set a “buy” rating and a $14.00 price objective on the stock. Lake Street Capital assumed 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. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Quoin Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Quoin Pharmaceuticals Trading Down 3.2%

NASDAQ QNRX opened at $3.90 on Friday. The firm has a market cap of $18.72 million, a PE ratio of -0.15 and a beta of 1.56. Quoin Pharmaceuticals has a 1-year low of $3.25 and a 1-year high of $23.50. The stock has a 50-day moving average of $5.71 and a 200-day moving average of $5.32.

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

Insider Activity at Quoin Pharmaceuticals

In other Quoin Pharmaceuticals news, CFO Sally Lawlor acquired 10,244 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were purchased at an average cost of $4.88 per share, for a total transaction of $49,990.72. Following the completion of the purchase, the chief financial officer owned 10,684 shares in the company, valued at approximately $52,137.92. This trade represents a 2,328.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Anthony Culverwell bought 6,146 shares of the company’s 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 transaction, the director directly owned 40,364 shares in the company, valued at approximately $196,976.32. This represents a 17.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 57,370 shares of company stock valued at $279,966. 7.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Quoin Pharmaceuticals

An institutional investor recently raised its stake in Quoin Pharmaceuticals stock. SummitTX Capital L.P. boosted its holdings in shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,300 shares of the company’s stock after buying an additional 35,505 shares during the quarter. SummitTX Capital L.P. owned 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.