Buy Rating for Quoin Pharmaceuticals: Promising Phase 3 Results for QRX003 in Netherton Syndrome

In a report released yesterday, Naz Rahman from Maxim Group reiterated a Buy rating on Quoin Pharmaceuticals (QNRX – Research Report), with a price target of $2.00.

Naz Rahman has given his Buy rating due to a combination of factors that highlight the potential of Quoin Pharmaceuticals’ lead product, QRX003. The company is at a clinical-stage focusing on rare dermatological diseases, with QRX003 currently in Phase 3 trials for Netherton Syndrome (NS), a condition with no FDA-approved treatments. The recent positive data from a pediatric patient in the ‘whole body’ study showed rapid response and significant quality of life improvements, which supports the drug’s risk/benefit profile.
Furthermore, the consistency of these results with prior adult studies and the absence of new adverse effects are encouraging. Quoin plans to release additional data throughout 2025, and the ongoing ‘whole body’ study led by Dr. Amy Paller could be pivotal for real-world application. These developments, along with the potential market opportunity for an approved NS therapy, underpin Rahman’s optimistic outlook and Buy rating for Quoin Pharmaceuticals.

QNRX’s price has also changed dramatically for the past six months – from $0.605 to $0.355, which is a -41.32% drop .