Maxim Group Maintains Buy on Quoin Pharmaceuticals, Lowers Price Target to $4
Portfolio Pulse from Benzinga Newsdesk
Maxim Group analyst Naz Rahman has maintained a Buy rating on Quoin Pharmaceuticals (NASDAQ:QNRX) but has lowered the price target from $15 to $4.

March 15, 2024 | 3:15 pm
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NEGATIVE IMPACT
Maxim Group maintains a Buy rating on Quoin Pharmaceuticals but lowers the price target from $15 to $4.
The reduction in the price target from $15 to $4 by a reputable analyst firm like Maxim Group could lead to a negative short-term sentiment among investors, potentially causing a decrease in the stock price. The maintenance of a Buy rating indicates underlying confidence in the company's fundamentals, but the significant cut in the price target is likely to have a more immediate impact on investor perception and stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100