ValuEngine Downgrades Tonix Pharmaceuticals Holding Corp. (TNXP) to Strong Sell
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Monday.
A number of other research firms also recently weighed in on TNXP. Aegis started coverage on Tonix Pharmaceuticals Holding Corp. in a report on Monday, June 26th. They issued a “buy” rating and a $10.00 target price on the stock. Dawson James reissued a “buy” rating and issued a $9.00 target price on shares of Tonix Pharmaceuticals Holding Corp. in a research report on Wednesday, August 23rd. Drexel Hamilton initiated coverage on Tonix Pharmaceuticals Holding Corp. in a research note on Tuesday, August 22nd. They set a “buy” rating for the company. Finally, Roth Capital upgraded Tonix Pharmaceuticals Holding Corp. from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Friday, August 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $8.33.
Tonix Pharmaceuticals Holding Corp. (NASDAQ TNXP) opened at 4.38 on Monday. The stock has a 50 day moving average of $3.90 and a 200 day moving average of $4.09. Tonix Pharmaceuticals Holding Corp. has a 1-year low of $0.33 and a 1-year high of $9.40. The stock’s market cap is $32.89 million.
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) last released its quarterly earnings results on Monday, August 14th. The company reported ($0.65) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.78) by $0.13. Equities analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post ($3.02) EPS for the current fiscal year.
In other Tonix Pharmaceuticals Holding Corp. news, CEO Seth Lederman purchased 20,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average price of $3.00 per share, for a total transaction of $60,000.00. Following the purchase, the chief executive officer now directly owns 11,166 shares of the company’s stock, valued at approximately $33,498. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.00% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in shares of Tonix Pharmaceuticals Holding Corp. in the 1st quarter worth $119,000. Vanguard Group Inc. lifted its position in Tonix Pharmaceuticals Holding Corp. by 28.8% during the second quarter. Vanguard Group Inc. now owns 184,377 shares of the company’s stock valued at $799,000 after purchasing an additional 41,264 shares in the last quarter. Finally, B. Riley Financial Inc. purchased a new position in Tonix Pharmaceuticals Holding Corp. during the second quarter valued at $1,637,000. 28.27% of the stock is owned by hedge funds and other institutional investors.
About Tonix Pharmaceuticals Holding Corp.
Tonix Pharmaceuticals Holding Corp., a clinical-stage pharmaceutical company, engages in developing pharmaceutical products for central nervous system disorders. The companys lead program focuses on post-traumatic stress disorder (PTSD) that is characterized by chronic disability, inadequate treatment options, high utilization of healthcare services, and economic burden.
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