Naz Rahman, an analyst from Maxim Group, reiterated the Buy rating on Quoin Pharmaceuticals. The associated price target remains the same with $70.00.
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Naz Rahman has given his Buy rating due to a combination of factors surrounding Quoin Pharmaceuticals’ promising developments. The company’s lead asset, QRX003, is in Phase 3 trials for Netherton Syndrome (NS), a condition with no current FDA-approved treatments, positioning Quoin as a potential first mover in this space. This unique opportunity could lead to significant market advantages if the trials prove successful.
Naz Rahman also highlights Quoin’s recent progress with their topical rapamycin formulation, achieving higher concentrations than competitors, which could translate into improved efficacy. The planned studies for microcystic lymphatic malformation (LM) and venous malformation (VM) further diversify Quoin’s pipeline, with the potential for promising results given the larger patient population compared to NS. While Quoin may not be first-to-market for LM or VM, the market size allows room for multiple players, and Quoin’s demonstrated expertise in rare skin disorders bolsters confidence in their future prospects.
Rahman covers the Healthcare sector, focusing on stocks such as Kazia Therapeutics, Vivani Medical, and Silexion Therapeutics. According to TipRanks, Rahman has an average return of -9.3% and a 33.33% success rate on recommended stocks.