Analyst Naz Rahman of Maxim Group reiterated a Buy rating on Quoin Pharmaceuticals, retaining the price target of $70.00.
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Naz Rahman has given his Buy rating due to a combination of factors that highlight Quoin Pharmaceuticals’ promising outlook. The company’s lead asset, QRX003, is in Phase 3 studies for Netherton Syndrome (NS), a condition with no FDA-approved treatments, positioning QRX003 to potentially be the first approved therapy for this indication. The recent financial activities, including a significant financing round, have strengthened Quoin’s cash position, ensuring they are well-funded to advance through pivotal trial readouts and potential filings.
Additionally, the positive data from the ‘Whole Body’ study of QRX003 is highly encouraging, showing complete skin clearing and elimination of pruritus in a patient, which are critical endpoints for the upcoming pivotal trials. These results, along with the potential for QRX003 to be first-to-market, suggest a significant commercial opportunity for Quoin. The involvement of top healthcare-focused institutional investors further underscores the confidence in QRX003’s potential. Overall, these factors contribute to a de-risked profile for Quoin and a promising outlook for 2026, justifying the Buy rating.