Wall Street Zen Upgrades Tonix Pharmaceuticals (NASDAQ:TNXP) to Hold

Tonix Pharmaceuticals (NASDAQ:TNXP) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other brokerages have also recently commented on TNXP. Alliance Global Partners reissued a “buy” rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Noble Financial reissued an “outperform” rating and issued a $70.00 price target on shares of Tonix Pharmaceuticals in a research note on Thursday, March 20th.

Tonix Pharmaceuticals Price Performance

Shares of TNXP opened at $40.65 on Friday. The company has a market capitalization of $297.76 million, a price-to-earnings ratio of -0.01 and a beta of 2.09. Tonix Pharmaceuticals has a fifty-two week low of $6.76 and a fifty-two week high of $264.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81. The business’s 50-day moving average is $23.21 and its 200-day moving average is $23.05.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its earnings results on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.23) by $0.39. The company had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.55 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. Equities research analysts expect that Tonix Pharmaceuticals will post -1762.5 EPS for the current fiscal year.

Insider Activity at Tonix Pharmaceuticals

In related news, CEO Seth Lederman purchased 4,000 shares of the stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,005 shares in the company, valued at approximately $86,307.75. This trade represents a 80,000.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TNXP. Geode Capital Management LLC grew its holdings in Tonix Pharmaceuticals by 1,600.1% during the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock valued at $650,000 after purchasing an additional 1,855,907 shares during the last quarter. Jane Street Group LLC grew its holdings in Tonix Pharmaceuticals by 5,932.3% during the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company’s stock valued at $548,000 after purchasing an additional 1,635,119 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Tonix Pharmaceuticals during the fourth quarter valued at approximately $526,000. Northern Trust Corp acquired a new position in Tonix Pharmaceuticals during the fourth quarter valued at approximately $162,000. Finally, Two Sigma Investments LP acquired a new position in Tonix Pharmaceuticals during the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds own 82.26% of the company’s stock.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.