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, primarily centered around the promising developments in Quoin Pharmaceuticals’ lead product, QRX003, which is in Phase 3 trials for Netherton Syndrome (NS). The absence of FDA-approved therapies for NS positions QRX003 as a potential first-in-class treatment, and recent data has consistently shown positive efficacy signals and good tolerability, indicating a favorable risk-benefit profile.
Quoin’s financial health also supports the Buy rating, with sufficient cash reserves and an equity line of credit that should fund operations into 2026, allowing the company to advance its clinical programs. Additionally, the upcoming data readouts in 2025, including those from a ‘whole body’ study led by a key opinion leader, are expected to be pivotal for the company’s progress. The potential for QRX003 to address a significant unmet need in NS treatment further underscores the stock’s market potential, making it an attractive investment opportunity.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of QNRX in relation to earlier this year.
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