Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.88 and traded as high as $13.48. Tonix Pharmaceuticals shares last traded at $13.16, with a volume of 362,252 shares.
Analyst Ratings Changes
Several brokerages recently weighed in on TNXP. Raymond James Financial reiterated a “strong-buy” rating and set a $27.00 price target on shares of Tonix Pharmaceuticals in a research report on Monday, August 10th. Wall Street Zen upgraded Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Weiss Ratings cut shares of Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $24.50.
Get Our Latest Analysis on TNXP
Tonix Pharmaceuticals Stock Up 0.2%
The business’s 50-day simple moving average is $12.12 and its two-hundred day simple moving average is $12.88. The firm has a market cap of $225.69 million, a price-to-earnings ratio of -1.02 and a beta of 1.74.
Tonix Pharmaceuticals (NASDAQ:TNXP – Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($2.44) EPS for the quarter, beating analysts’ consensus estimates of ($2.64) by $0.20. Tonix Pharmaceuticals had a negative return on equity of 68.99% and a negative net margin of 548.64%.The firm had revenue of $13.54 million for the quarter, compared to analysts’ expectations of $7.72 million. On average, analysts expect that Tonix Pharmaceuticals Holding Corp. will post -10.03 earnings per share for the current year.
Insider Transactions at Tonix Pharmaceuticals
In other Tonix Pharmaceuticals news, CEO Seth Lederman acquired 2,000 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were bought at an average cost of $13.79 per share, with a total value of $27,580.00. Following the completion of the acquisition, the chief executive officer owned 11,005 shares in the company, valued at approximately $151,758.95. This trade represents a 22.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 4,415 shares of company stock worth $55,108 in the last quarter. Corporate insiders own 2.00% of the company’s stock.
Institutional Trading of Tonix Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in TNXP. Legal & General Group Plc acquired a new position in shares of Tonix Pharmaceuticals during the 2nd quarter worth approximately $25,000. Strs Ohio grew its stake in Tonix Pharmaceuticals by 9.9% in the 4th quarter. Strs Ohio now owns 7,800 shares of the company’s stock valued at $122,000 after acquiring an additional 700 shares during the period. Rhumbline Advisers grew its stake in Tonix Pharmaceuticals by 8.0% in the 3rd quarter. Rhumbline Advisers now owns 12,206 shares of the company’s stock valued at $295,000 after acquiring an additional 908 shares during the period. Bank of America Corp DE increased its holdings in Tonix Pharmaceuticals by 32.7% in the 3rd quarter. Bank of America Corp DE now owns 4,651 shares of the company’s stock worth $112,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Tonix Pharmaceuticals in the 3rd quarter worth $29,000. 82.26% of the stock is currently owned by hedge funds and other institutional investors.
Tonix Pharmaceuticals Company Profile
Tonix Pharmaceuticals is a clinical-stage biotechnology company focused on developing therapeutics for central nervous system disorders, immunology and rare diseases. The company’s pipeline includes small-molecule and biologic product candidates designed to address conditions such as fibromyalgia, post-traumatic stress disorder (PTSD) and other chronic pain syndromes, as well as vaccines for potential viral and biothreat agents.
Among Tonix’s lead programs is TNX-102 SL, a sublingual formulation of cyclobenzaprine being evaluated for the treatment of fibromyalgia and PTSD.
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