Quoin Pharmaceuticals (NASDAQ:QNRX) Releases Earnings Results, Misses Estimates By $0.07 EPS

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

Quoin Pharmaceuticals Stock Down 15.9%

NASDAQ QNRX traded down $0.96 during trading hours on Friday, hitting $5.09. The company had a trading volume of 64,689 shares, compared to its average volume of 15,790. The firm has a market cap of $10.23 million, a P/E ratio of -0.17 and a beta of 1.50. Quoin Pharmaceuticals has a fifty-two week low of $3.25 and a fifty-two week high of $41.80. The business has a fifty day simple moving average of $4.55 and a 200-day simple moving average of $6.12.

Analyst Upgrades and Downgrades

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

Institutional Trading of Quoin Pharmaceuticals

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

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.