Tonix Pharmaceuticals (NASDAQ:TNXP) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Tonix Pharmaceuticals (NASDAQ:TNXP) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research analysts have also recently weighed in on the company. TD Cowen upgraded Tonix Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, May 5th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $27.00 price objective on shares of Tonix Pharmaceuticals in a research report on Monday, August 10th. Finally, Weiss Ratings downgraded Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Two equities 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.com, the company currently has a consensus rating of “Buy” and an average target price of $24.50.

Tonix Pharmaceuticals Stock Up 0.2%

Shares of TNXP opened at $13.59 on Friday. Tonix Pharmaceuticals has a twelve month low of $9.40 and a twelve month high of $31.55. The company has a market capitalization of $233.07 million, a P/E ratio of -1.05 and a beta of 1.69. The firm has a 50 day moving average of $11.98 and a 200 day moving average of $13.00.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings data on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $7.72 million. On average, sell-side analysts expect that Tonix Pharmaceuticals will post -10.03 EPS for the current year.

Insider Activity at Tonix Pharmaceuticals

In related news, Director Richard Newcomb Stillwell bought 5,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was acquired at an average cost of $11.65 per share, for a total transaction of $58,250.00. Following the purchase, the director owned 5,000 shares in the company, valued at approximately $58,250. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Seth Lederman bought 5,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $11.79 per share, with a total value of $58,950.00. Following the completion of the purchase, the chief executive officer owned 9,005 shares in the company, valued at approximately $106,168.95. The trade was a 124.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 12,415 shares of company stock worth $144,728 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Tonix Pharmaceuticals

Large investors have recently modified their holdings of the company. Legal & General Group Plc bought a new position in Tonix Pharmaceuticals in the second quarter valued at about $25,000. Strs Ohio grew its stake in shares of Tonix Pharmaceuticals by 9.9% during the 4th quarter. Strs Ohio now owns 7,800 shares of the company’s stock valued at $122,000 after purchasing an additional 700 shares during the period. Rhumbline Advisers grew its stake in shares of Tonix Pharmaceuticals by 8.0% during the 3rd quarter. Rhumbline Advisers now owns 12,206 shares of the company’s stock valued at $295,000 after purchasing an additional 908 shares during the period. Bank of America Corp DE increased its position in shares of Tonix Pharmaceuticals by 32.7% during the 3rd quarter. Bank of America Corp DE now owns 4,651 shares of the company’s stock valued at $112,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Tonix Pharmaceuticals during the 3rd quarter valued at about $29,000. 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.