Analyst Naz Rahman of Maxim Group reiterated a Buy rating on Quoin Pharmaceuticals, with a price target of $70.00.
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Naz Rahman has given his Buy rating due to a combination of factors surrounding Quoin Pharmaceuticals’ promising developments in treating Netherton Syndrome (NS). The company’s lead product, QRX003, is in Phase 3 trials and has shown consistent positive results, indicating significant skin clearing and symptom reduction in patients. This is particularly noteworthy given the absence of FDA-approved treatments for NS, suggesting a substantial market opportunity upon approval.
Furthermore, Quoin Pharmaceuticals has received Rare Pediatric Disease Designation from the FDA and Orphan Drug Designation from the EMA, which could expedite the review process and enhance the product’s value. The potential for a Pediatric Review Voucher, which could be sold for significant non-dilutive financing, adds to the financial attractiveness of the stock. Overall, the positive clinical data and strategic regulatory designations support the potential for QRX003’s approval and market success, justifying the Buy rating.
QNRX’s price has also changed dramatically for the past six months – from $0.310 to $7.810, which is a 2419.35% increase.