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

Quoin Pharmaceuticals (NASDAQ:QNRX) issued its quarterly earnings results on Thursday. The company reported ($0.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.52) by $0.55, Zacks reports.

Quoin Pharmaceuticals Stock Performance

QNRX stock traded down $0.12 during midday trading on Friday, hitting $3.73. The company had a trading volume of 25,555 shares, compared to its average volume of 32,247. Quoin Pharmaceuticals has a 52 week low of $3.25 and a 52 week high of $23.50. The stock’s 50 day moving average price is $5.29 and its 200 day moving average price is $5.93.

Insider Activity

In other Quoin Pharmaceuticals news, COO Denise Carter purchased 20,490 shares of the 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 transaction, the chief operating officer directly owned 37,709 shares of the company’s stock, valued at approximately $184,019.92. This trade represents a 119.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sally Lawlor acquired 10,244 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was acquired at an average price of $4.88 per share, for a total transaction of $49,990.72. Following the completion of the transaction, the chief financial officer owned 10,684 shares in the company, valued at approximately $52,137.92. The trade was a 2,328.18% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 57,370 shares of company stock worth $279,966. 7.54% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QNRX. Canaccord Genuity Group began coverage on shares of Quoin Pharmaceuticals in a research note on Monday, October 19th. They issued a “buy” rating and a $18.00 target price on the stock. Wall Street Zen upgraded shares of Quoin Pharmaceuticals to a “sell” rating in a research report on Saturday, October 17th. Lake Street Capital started coverage on shares of Quoin Pharmaceuticals in a report on Wednesday, September 23rd. They issued a “buy” rating and a $20.00 price target on the stock. 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 note on Monday, October 12th. They set a “buy” rating and a $14.00 price objective for the company. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.