Tonix Pharmaceuticals (NASDAQ:TNXP) Releases Quarterly Earnings Results, Misses Estimates By $0.39 EPS

Tonix Pharmaceuticals (NASDAQ:TNXP) announced its quarterly earnings data on Monday. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.54) by ($0.39), FiscalAI reports. Tonix Pharmaceuticals had a negative return on equity of 60.15% and a negative net margin of 946.22%.The firm had revenue of $6.88 million during the quarter, compared to analysts’ expectations of $6.10 million.

Tonix Pharmaceuticals Stock Performance

Tonix Pharmaceuticals stock traded up $0.02 during midday trading on Monday, hitting $14.11. 265,986 shares of the company were exchanged, compared to its average volume of 412,247. The firm has a market capitalization of $189.07 million, a PE ratio of -0.99 and a beta of 1.68. Tonix Pharmaceuticals has a fifty-two week low of $11.60 and a fifty-two week high of $69.97. The business has a fifty day simple moving average of $13.75 and a two-hundred day simple moving average of $15.84.

Insider Buying and Selling

In related news, CEO Seth Lederman bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were purchased at an average cost of $14.89 per share, with a total value of $223,350.00. Following the completion of the acquisition, the chief executive officer directly owned 15,001 shares in the company, valued at approximately $223,364.89. The trade was a 1,500,000.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Tonix Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of TNXP. Vanguard Group Inc. grew its holdings in Tonix Pharmaceuticals by 238.1% during the third quarter. Vanguard Group Inc. now owns 556,957 shares of the company’s stock worth $13,456,000 after acquiring an additional 392,225 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Tonix Pharmaceuticals during the fourth quarter worth about $2,895,000. Geode Capital Management LLC grew its holdings in Tonix Pharmaceuticals by 182.4% during the second quarter. Geode Capital Management LLC now owns 175,212 shares of the company’s stock worth $6,305,000 after acquiring an additional 113,175 shares during the period. Nuveen LLC grew its holdings in Tonix Pharmaceuticals by 507.7% in the fourth quarter. Nuveen LLC now owns 93,402 shares of the company’s stock valued at $1,459,000 after purchasing an additional 78,033 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in Tonix Pharmaceuticals in the third quarter valued at approximately $1,521,000. 82.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TNXP has been the subject of several research analyst reports. Wall Street Zen cut Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. TD Cowen upgraded Tonix Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.00.

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.