Lucid Capital initiated coverage of Quoin Pharmaceuticals with a Buy rating and $30 price target. Quoin is a late-stage clinical specialty pharmaceutical company positioned to potentially deliver the first approved therapy for Netherton syndrome, which currently has no approved treatment options, the analyst tells investors in a research note. The firm says QRX003's emergence as one of the more differentiated late-stage orphan dermatology opportunities among micro-cap biotech stories supports its Buy rating. It views Quoin as a "high-conviction opportunity."
