Quoin Pharmaceuticals (NASDAQ:QNRX) Announces Earnings Results

Quoin Pharmaceuticals (NASDAQ:QNRX) posted its quarterly earnings results on Friday. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.07), Zacks reports.

Quoin Pharmaceuticals Price Performance

Shares of Quoin Pharmaceuticals stock traded down $0.96 during trading on Friday, hitting $5.09. 64,689 shares of the company’s stock traded hands, compared to its average volume of 15,790. The firm’s fifty day moving average price is $4.55 and its 200 day moving average price is $6.12. Quoin Pharmaceuticals has a twelve month low of $3.25 and a twelve month high of $41.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QNRX. ADAR1 Capital Management LLC acquired a new stake in Quoin Pharmaceuticals during the fourth quarter valued at approximately $840,000. Boothbay Fund Management LLC bought a new stake in Quoin Pharmaceuticals in the fourth quarter valued at $863,000. SummitTX Capital L.P. acquired a new position in Quoin Pharmaceuticals during the fourth quarter worth $935,000. Millennium Management LLC bought a new position in shares of Quoin Pharmaceuticals during the fourth quarter valued at $1,080,000. Finally, Ikarian Capital LLC acquired a new stake in shares of Quoin Pharmaceuticals in the 4th quarter valued at $3,052,000. Institutional investors own 8.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. ThinkEquity assumed coverage on shares of Quoin Pharmaceuticals in a research note on Monday, June 15th. They issued a “buy” rating for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Monday, July 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Quoin Pharmaceuticals Company Profile

Quoin Pharmaceuticals, Ltd., a clinical stage specialty pharmaceutical company, focuses on the development and commercialization of therapeutic products for rare and orphan diseases. Its lead product is QRX003, a topical lotion to treat Netherton Syndrome (NS). The company is also developing QRX004 for the treatment of recessive dystrophic epidermolysis bullosa; QRX007 to treat NS; and QRX008 for the treatment of scleroderma. It has a research agreement with Queensland University of Technology; a license agreement with Skinvisible Inc; consulting agreements with Axella Research LLC; and a Master Service Agreement with Therapeutics Inc The company was founded in 2018 and is based in Ashburn, Virginia.