Tonix Pharmaceuticals (NASDAQ:TNXP) Upgraded to “Strong-Buy” at Raymond James Financial

Raymond James Financial upgraded shares of Tonix Pharmaceuticals (NASDAQ:TNXP) to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Monday, April 20th. Finally, TD Cowen raised shares of Tonix Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, May 5th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $24.00.

Tonix Pharmaceuticals Trading Down 1.0%

Shares of NASDAQ TNXP opened at $11.98 on Wednesday. Tonix Pharmaceuticals has a 12-month low of $10.03 and a 12-month high of $69.97. The company has a market cap of $190.96 million, a PE ratio of -0.83 and a beta of 1.67. The stock has a 50 day simple moving average of $12.81 and a 200-day simple moving average of $14.65.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Monday, May 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.54) by ($0.39). The business had revenue of $6.88 million during the quarter, compared to the consensus estimate of $6.12 million. Tonix Pharmaceuticals had a negative return on equity of 67.65% and a negative net margin of 839.52%. Sell-side analysts forecast that Tonix Pharmaceuticals will post -10.34 earnings per share for the current fiscal year.

Insider Activity at Tonix Pharmaceuticals

In other news, Director Richard Newcomb Stillwell bought 5,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were acquired at an average cost of $11.65 per share, with a total value of $58,250.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $58,250. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Seth Lederman purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average price of $11.79 per share, for a total transaction of $58,950.00. Following the acquisition, the chief executive officer directly owned 9,005 shares of the company’s stock, valued at $106,168.95. This trade represents a 124.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 11,415 shares of company stock worth $132,128. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Tonix Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new stake in shares of Tonix Pharmaceuticals in the second quarter worth $25,000. State of Wyoming acquired a new position in Tonix Pharmaceuticals during the fourth quarter valued at $27,000. Russell Investments Group Ltd. purchased a new stake in Tonix Pharmaceuticals in the 3rd quarter worth about $29,000. BNP Paribas Financial Markets acquired a new stake in Tonix Pharmaceuticals during the 2nd quarter worth about $65,000. Finally, Leonteq Securities AG acquired a new stake in Tonix Pharmaceuticals during the 4th quarter worth about $89,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.

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.