Quoin Pharmaceuticals (NASDAQ:QNRX) Issues Earnings Results, Beats Estimates By $0.40 EPS

Quoin Pharmaceuticals (NASDAQ:QNRX) issued its quarterly earnings data on Thursday. The company reported ($1.77) earnings per share for the quarter, beating the consensus estimate of ($2.17) by $0.40, FiscalAI reports.

Quoin Pharmaceuticals Price Performance

Shares of QNRX stock traded down $0.44 during trading on Friday, reaching $5.93. The company had a trading volume of 29,564 shares, compared to its average volume of 25,830. The firm’s 50 day simple moving average is $7.14 and its two-hundred day simple moving average is $10.55. Quoin Pharmaceuticals has a one year low of $5.20 and a one year high of $41.80. The company has a market capitalization of $10.67 million, a PE ratio of -0.20 and a beta of 1.61.

Hedge Funds Weigh In On Quoin Pharmaceuticals

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Quoin Pharmaceuticals in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Quoin Pharmaceuticals has an average rating of “Sell”.

About Quoin Pharmaceuticals

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.