Tonix Pharmaceuticals (NASDAQ:TNXP) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Tonix Pharmaceuticals (NASDAQ:TNXP) from a hold rating to a sell rating in a report published on Friday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $70.00.

Tonix Pharmaceuticals Trading Down 2.9%

TNXP opened at $24.00 on Friday. The firm has a market capitalization of $210.48 million, a PE ratio of -0.61 and a beta of 1.87. Tonix Pharmaceuticals has a twelve month low of $6.76 and a twelve month high of $130.00. The firm’s 50-day moving average price is $34.42 and its 200 day moving average price is $30.80.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings results on Monday, August 11th. The company reported ($3.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.10) by ($0.76). The business had revenue of $2.00 million for the quarter, compared to analyst estimates of $2.60 million. Tonix Pharmaceuticals had a negative return on equity of 57.93% and a negative net margin of 828.22%. As a group, analysts predict that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in shares of Tonix Pharmaceuticals by 108.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,172 shares of the company’s stock valued at $258,000 after acquiring an additional 3,731 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter valued at approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter valued at approximately $149,000. JT Stratford LLC purchased a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter valued at approximately $232,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter valued at approximately $104,000. 82.26% of the stock is owned by hedge funds and other institutional investors.

Tonix Pharmaceuticals Company Profile

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.