Tonix Pharmaceuticals (NASDAQ:TNXP – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday, Wall Street Zen reports.
A number of other brokerages have also recently issued reports on TNXP. Raymond James Financial reiterated a “strong-buy” rating and issued a $27.00 target price on shares of Tonix Pharmaceuticals in a report on Monday, August 10th. Weiss Ratings downgraded shares of Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $24.50.
Read Our Latest Report on TNXP
Tonix Pharmaceuticals Trading Down 3.5%
Shares of Tonix Pharmaceuticals stock opened at $8.91 on Friday. Tonix Pharmaceuticals has a 1 year low of $8.69 and a 1 year high of $25.40. The firm has a market capitalization of $152.82 million, a PE ratio of -0.69 and a beta of 1.78. The firm’s 50 day moving average is $11.72 and its 200 day moving average is $12.47.
Tonix Pharmaceuticals (NASDAQ:TNXP – Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $13.54 million for the quarter, compared to analyst estimates of $7.72 million. As a group, research analysts anticipate that Tonix Pharmaceuticals will post -9.9 earnings per share for the current year.
Insider Activity
In related news, CEO Seth Lederman bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average price of $13.79 per share, with a total value of $27,580.00. Following the completion of the transaction, the chief executive officer directly owned 11,005 shares in the company, valued at approximately $151,758.95. This represents a 22.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Tonix Pharmaceuticals
A number of hedge funds have recently bought and sold shares of TNXP. Integrated Wealth Concepts LLC purchased a new stake in Tonix Pharmaceuticals in the 2nd quarter worth about $92,000. Great Lakes Advisors LLC bought a new stake in Tonix Pharmaceuticals in the 2nd quarter valued at about $303,000. Bank of New York Mellon Corp purchased a new stake in Tonix Pharmaceuticals during the second quarter valued at about $533,000. Bank of America Corp DE lifted its holdings in Tonix Pharmaceuticals by 101.1% during the first quarter. Bank of America Corp DE now owns 60,958 shares of the company’s stock valued at $838,000 after purchasing an additional 30,644 shares during the last quarter. Finally, SJS Investment Consulting Inc. bought a new position in Tonix Pharmaceuticals during the first quarter worth about $138,000. 82.26% of the stock is owned by hedge funds and other institutional investors.
Tonix Pharmaceuticals Company Profile
Tonix Pharmaceuticals Holding Corp. is a biopharmaceutical company focused on developing therapies and vaccines for conditions involving the central nervous system, immunology, and infectious diseases. The company’s programs use a range of approaches, including small-molecule medicines, biologics, vaccines, and intranasal therapies.
Tonix’s development portfolio has included TNX-102 SL, a sublingual formulation of cyclobenzaprine investigated for fibromyalgia and other pain-related conditions.
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