Tonix Pharmaceuticals (NASDAQ:TNXP) Raised to “Hold” at Wall Street Zen

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

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Tonix Pharmaceuticals Stock Performance

Shares of NASDAQ TNXP opened at $13.98 on Friday. Tonix Pharmaceuticals has a 52-week low of $11.60 and a 52-week high of $69.97. The firm has a 50 day moving average price of $14.21 and a two-hundred day moving average price of $16.55. The stock has a market cap of $187.33 million, a P/E ratio of -0.98 and a beta of 1.75.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($3.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.16) by ($0.82). Tonix Pharmaceuticals had a negative net margin of 946.22% and a negative return on equity of 60.15%. The business had revenue of $5.39 million during the quarter, compared to analyst estimates of $2.97 million. Analysts predict that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Tonix Pharmaceuticals

In other news, CEO Seth Lederman acquired 15,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was bought at an average cost of $14.89 per share, for a total transaction of $223,350.00. Following the completion of the transaction, the chief executive officer directly owned 15,001 shares in the company, valued at $223,364.89. This represents a 1,500,000.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several large investors have recently modified their holdings of TNXP. Royal Bank of Canada acquired a new stake in shares of Tonix Pharmaceuticals during the first quarter worth $610,000. Geode Capital Management LLC increased its position in shares of 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 buying an additional 113,175 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Tonix Pharmaceuticals during the second quarter worth $129,000. Legal & General Group Plc acquired a new stake in shares of Tonix Pharmaceuticals during the second quarter worth $25,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Tonix Pharmaceuticals during the second quarter worth $104,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.

About Tonix Pharmaceuticals

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.