Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) Stock Has Consensus Price Target of $17.33 According to Analysts

Shares of Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $17.33.

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Quoin Pharmaceuticals to a “sell” rating in a research report on Saturday. BTIG Research assumed coverage on Quoin Pharmaceuticals in a report on Monday, October 12th. They set a “buy” rating and a $14.00 price target on the stock. Lake Street Capital began coverage on Quoin Pharmaceuticals in a report on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Friday. Finally, Canaccord Genuity Group initiated coverage on shares of Quoin Pharmaceuticals in a research note on Monday. They set a “buy” rating and a $18.00 price objective on the stock.

Insider Activity at Quoin Pharmaceuticals

In other news, COO Denise P. Carter bought 20,490 shares of the business’s stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $4.88 per share, for a total transaction of $99,991.20. Following the completion of 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sally Lawlor bought 10,244 shares of the business’s stock in a transaction on Monday, August 31st. The stock was purchased at an average price of $4.88 per share, with a total value of $49,990.72. Following the completion of the transaction, the chief financial officer directly owned 10,684 shares of the company’s stock, valued at $52,137.92. This trade represents a 2,328.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 57,370 shares of company stock valued at $279,966. Insiders own 7.54% of the company’s stock.

Hedge Funds Weigh In On Quoin Pharmaceuticals

An institutional investor recently raised its stake in Quoin Pharmaceuticals stock. SummitTX Capital L.P. lifted its position in Quoin Pharmaceuticals, Ltd. Sponsored ADR (NASDAQ:QNRX) by 54.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,300 shares of the company’s stock after buying an additional 35,505 shares during the period. SummitTX Capital L.P. owned approximately 5.56% of Quoin Pharmaceuticals worth $662,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 8.63% of the company’s stock.

Quoin Pharmaceuticals Stock Performance

Shares of Quoin Pharmaceuticals stock traded down $0.02 during trading on Monday, hitting $3.88. 1,469 shares of the stock were exchanged, compared to its average volume of 282,781. The stock’s fifty day moving average is $5.71 and its 200 day moving average is $5.31. The stock has a market cap of $18.63 million, a PE ratio of -0.15 and a beta of 1.56. Quoin Pharmaceuticals has a 12 month low of $3.25 and a 12 month high of $23.50.

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

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.