Quoin Pharmaceuticals (NASDAQ:QNRX) Upgraded at Wall Street Zen

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

Other research analysts have also issued research reports about the stock. BTIG Research initiated coverage on shares of Quoin Pharmaceuticals in a research note on Monday, October 12th. They issued a “buy” rating and a $14.00 target price on the stock. Lake Street Capital began coverage on shares of Quoin Pharmaceuticals in a research note on Wednesday, September 23rd. They set a “buy” rating and a $20.00 price target for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.33.

Quoin Pharmaceuticals Trading Up 2.1%

Shares of QNRX stock opened at $3.98 on Friday. The stock has a 50-day moving average price of $5.68 and a 200 day moving average price of $5.29. Quoin Pharmaceuticals has a 12 month low of $3.25 and a 12 month high of $23.50.

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

Insider Buying and Selling

In related news, CEO Michael Myers acquired 20,490 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average price of $4.88 per share, for a total transaction of $99,991.20. Following the completion of the acquisition, the chief executive officer owned 37,713 shares of the company’s stock, valued at $184,039.44. This trade represents a 118.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sally Lawlor bought 10,244 shares of the business’s stock in a transaction on Monday, August 31st. The stock was bought at an average cost of $4.88 per share, for a total transaction of $49,990.72. Following the purchase, the chief financial officer directly owned 10,684 shares of the company’s stock, valued at approximately $52,137.92. This trade represents a 2,328.18% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 57,370 shares of company stock worth $279,966. Company insiders own 7.54% of the company’s stock.

Hedge Funds Weigh In On Quoin Pharmaceuticals

A hedge fund recently raised its position in Quoin Pharmaceuticals stock. SummitTX Capital L.P. grew its stake in 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 and Exchange Commission (SEC). The fund owned 100,300 shares of the company’s stock after acquiring 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 quarter. Hedge funds and other institutional investors 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.